My question is when calculating capital gains.... are all closing costs added to the basis of the purchase (inspections, taxes, lawyer fees)? Also, are all closing costs of the sale subtracted from the sale price (realtor commission, taxes, seller assistance /w closing costs)?

Basically, is this scenario roughly correct?

Taxes After Sale (Very Rough)
————————————————†”——————
Purchase Price - $143,000
Closing Costs - $6000
Depreciation - $7000 for 2 years
New Basis - $142,000
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Sale Price - $160,000
Sale Closing Costs - $10,000
New Adjusted Sale Price - $150,000
Capital Gain - $8,000
Capital Gain Tax (15% Federal + 6.5% State = 21.5%) - $1720