Home inspection fee on new rental

[bmshah1]

We bought a new rental property last year and paid for home inspection. Under which of the following categories would it fall to increase my cost basis?

    * Abstract fees,

    * Charges for installing utility services,

    * Legal fees,

    * Recording fees,

    * Surveys,

    * Transfer taxes,

    * Title insurance

[Vanessa A]

It would not be considered any of those fees.  It would be considered Other expenses or miscellaneous to add to your cost basis. 

 Just be sure that no matter how long you own your home, that you keep all the receipts and records on what you paid and for what.