Sold Rental Property- How do I adjust basis ?
I sold my Rental Property in October 2017.
I got my 1099-s form from the Title Company, which shows the Gross Proceeds or Sales Price. I know how to get the IRS Form 4797 started...along with recapturing the previous depreciation costs...as the Tax Software helps very nicely with that. But....I don't know how or where to show all the closing costs and adjusted basis, so that the Basis number in Form 4797 is lower & Accurate. Can anyone tell me where to show all of the Sales costs, including realtor fees, title & settlement charges, etc ?
Really need your advice !! Thank You