I bought and used home as primary residence in 2000. Refinance in years 2010 and 2018 while living in home. Converted to rental property July 2022. How do you calculate the adjusted cost basis used for determining depreciation of the rental property?
I understand you can add certain closing costs (attorney fees, title insurance, surveys) for buying house in year 2000 to original purchase price of house to calculate the cost basis, but can you also add refinancing closing costs in years 2010 and 2018 (title insurance, etc) to that cost basis?
Thanks.
