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Investors & landlords
I sold my rental property in 2021, also had it rented out a few months prior. The deprecation amount was incorrect as the cost basis was not correct. Example, I paid $200,000 for the property, but the depreciation (cost Basis) was $150,000. I need to find someplace to modify the cost basis to $200,000 and also put the selling closing costs in? Where would I do that? In a previous post you stated to change it in: Ending Adjusted Basis in the property (can not find that anywhere). I get in a loop where it asks for selling price for property and land, but never asks for a new cost basis. Thanks
‎April 11, 2022
1:40 PM