Hi! For the life of me I can not figure out where/how to enter the real estate commission we paid on the sale of our rental property. We had owned it for 5 years and it was inherited. Can anyone please help? Thanks!
Commission on ale of rental property
Apr 11, 2008
2 Replies
Line 2(f), where it says "Cost or other basis, plus improvements and expense of sale."
You are looking at Form 4797, right? If not, file for an extension and hire a professional preparer after April 15.
Yes, I am on Form 4797 Part 1. So I just add the real estate commission on the sale to the cost basis? It just seems strange that I just add it in there without justifying or documenting it somewhere! Thanks a bunch for the advice!
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