the closing costs you said you paid (I'm assuming they are actually closing costs and don't include any amounts which were or are either not deductible - like a deposit to and/or redemption of a real estate tax escrow account or should have been or will be deductible such as proration of real estate taxes upon purchase and sale) total about $30K which reduce your gain so does the amounts paid for improvements. you can now figure your gain - purchase price + costs of improvements + closing costs on purchase - depreciation that is the larger of allowed or allowable (if you took too much that's what you use. if you took too little you have to compute what you should have taken and that's what you use - see a pro in this case because you have a tax issue that TT can't really help you with) = basis
sales price - closing costs on sale = net selling price
net selling price - basis = gain
gain - depreciation (again the larger of allowed or allowable) = portion eligible for capital gain treatment.
