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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15328
Experience:  15years with H & R Block. Divisional leader, Instructor
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Need assistance with completing 593E; rental property

Customer Question

Need assistance with completing 593E; rental property closing in a week and need to get to escrow officer for proper withholding and accountant is out of town
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: Purchase price - line 4 is that the original price or the refi?
JA: Is there anything else important you think the Accountant should know?
Customer: This was our primary home for 11 years and renting the property for the last 5 been vacant since June
Submitted: 9 months ago.
Category: Tax
Expert:  Robin D. replied 9 months ago.

Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

Expert:  Robin D. replied 9 months ago.

Line 4 is the actual purchase price.

If you acquired this property by purchase, enter your purchase price. Your purchase price includes the down payment and any debt you incurred; such as a first or second mortgage or promissory notes you gave the seller/transferor in payment for the property. Not any refinanced amount because that was not part of the purchase.

Expert:  Robin D. replied 9 months ago.

Did that clarify for line 4?