Hopefully these are my last questions... I sold a house last year, that I had been renting out for several years.
I never lived in this house.
I am using TurboTax Premium Desktop for Windows.
I am trying to determine which items from the Seller's Final Settlement Statement (which I got from the title company) are deductible from the Sales Price?? Based on a post that @Carl made in July 4, 2019, it looks like, at a minimum, the Commissions, title insurance, escrow fees, transfer taxes, maybe a couple of others...
What about the $30,000 that the broker spent in Home Prep for sale?? Do those count as Ad Expenses??
Second, where do these expenses actually get listed??
I was going to list them in Asset Sales Expenses on the Sales Info page.
However, @Carl in his post, said this:
"No. it [the deductible expenses] is not deducted from the sales price. It's added to your cost basis."
So where *is* the cost basis entered? The only place that I see a Cost field is in the Review Info dialog, and that *does* have the expected cost basis value, but it doesn't have a label that could confirm this. Sadly, searching in TTP for 'cost basis' turns up nothing useful.
