On top of the purchase price, add the closing costs, home insurance, moving costs, renovations, interior design, furniture, linens, solar, emergency generators, landscaping, outbuilding construction. And of course, remember to add the 5% trustee fee to the purchase
price.
See the checklist below for more ideas.
Add the total of the items together and add it to the purchase price of the property. Enter the
total $ amount in Box 2 of the 1099-A. Here’s a handy spreadsheet template to help you calculate the costs.