Inputs for Legal Fees, Title Search, Document Preparation used to determine my cost basis for rental property

[AJ_52]

I’m trying to determine my inputs for Legal Fees, Title Search, Document Preparation used to determine my cost basis are accurate. Its basically everything listing under SERVICES BORROWER DID NOT SHOP FOR in my closing statement:

Appraisal Fee

Credit Report

Flood Certification

Title - Courier / Wire  / Email

Title - Endorsement Fee

Title - Premium for Lender's Coverage

Title - Settlement or Closing Fee

Does this sound accurate?

[PaulaM]

Basically, everything other than mortgage costs and real estate taxes are included in the rental property's basis. 

What closing costs can I deduct or add to basis for rental?

[AJ_52]

Even underwriting fees?

[PaulaM]

Any fee related to the cost of a loan is not added to basis. 

See page 11 of Pub 527 for a list of costs that are included in basis and ones that you cannot.