How do I account for the real-estate cost on the sale of rental property?

[HelenaC]

In TurboTax, selling expenses are not entered separately from the cost basis. They are added to the cost basis and entered as a lump sum.

Sales expenses include:

 - commissions
 - appraisal fees
 - broker's fees
 - legal fees
 - advertising fees
 - home inspection reports
 - title insurance
 - transfer taxes or fees
 - geological surveys
 - loan charges (points) or other fees paid on the buyer's behalf

Sales expenses do not include:
 - mortgage payoffs
 - home equity loan payoffs
 - rent-back costs
 - payoff to creditors
 - property taxes
 - homeowners' association fees

See the screenshot below.

Related information:

• I sold my rental property. How do I report that?