I recently purchased a rental property. There is a section in TT for entering escrow fees for cost basis adjustments.
I got almost $3000 in credit from my agent and also $3200 in lender credit (for getting mortgage with bank). I am assuming I need to add these up that decrease the cost basis?
So adjusted cost basis is something like this, correct?
+ Purchase price
+ Title insurance (lender and owner)
- RE agent credit (some small commission credit)
- lender credits for closing loan
The credits are in the Escrow settlement document.
