The National Directory of Certified Public Accountants

Ask A CPA - Rental Expenses

What Is The Adjusted Basis Of My Rental Property?

The adjusted basis is the amount used to determine your profit or loss on the sale of your rental. It is generally your original cost increased by the non-deductible closing costs at the original closing plus any capital improvements made over the years minus prior years depreciation and other capital write-offs.

If you need professional help with "Rental Expenses" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.