Adding sales info for a rental property that was 100% a rental. Is the Asset Sales Expenses (Business Portion Only) value my original purchase price minus the land value?

[ColeenD3]

No, they are expenses for the sale. They will be on your HUD-1. What you are referring to is your expenses for the purchase when you originally bought the property.

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

 - home owner association fees