- Thanks for very quick and point by point reply. I still need one point to be clarified: when you say cost basis of that property I really do not change the cost basis since the purchase or asset was rented after the depreciation's started but I enter them as Sale Expenses? I am not able to figure out if these costs get added as a separate depreciation item?
- Also to clarify I do not reduce the rehab cost prior to sale from the same price (even though you said it reduces sale amount) as then it will not match 1099 issued? To clarify the rehab cost was not paid on HUD but I paid them after the sale closed.
- Please confirm that property taxes paid on HUD gets added along with commission and other closing expenses and not entered as separate line item for the property.
February 23, 2020
3:32 PM
