@Carl
It seems you disagree with @Anonymous on this California 3-1/3% withholding expense from the settlement statement.
I am confused, maybe you both are saying the same thing...
Do I add this large California 3-1/3% withholding expense from the settlement statement to the basis of the home like the other settlement expenses?
The only settlement expense I cannot add to the cost basis is the prorated county tax since it was paid when the home was for sale and no longer rented. Do you agree?
BTW, I never lived in this rental home hence I cannot take the 1-time $500K married couple deduction.
Thanks!!
