topic I have legal fee expenses and appraisal costs incurred in 2016 for a commercial rental property sold in 2017. Can I use those costs to adjust cost basis? in Investors & landlords

I have legal fee expenses and appraisal costs incurred in 2016 for a commercial rental property sold in 2017. Can I use those costs to adjust cost basis?

jshine1 — Tue, 04 Jun 2019 21:31:04 GMT

CherylW — Tue, 04 Jun 2019 21:31:06 GMT

Yes, those costs would be added to the basis of your property when you adjust it when you sell it, and will reduce your taxable gain.

jshine1 — Tue, 04 Jun 2019 21:31:07 GMT

thanks for the info