Investors & landlords

No, you do not reduce the selling price. When you enter in Sale of Business or Rental Property you add the renovations to the original cost of the rental. Yes add all of the items together.

Select (a): Sales of business or rental property that you haven't already reported.  See below for your entry steps.

1. Wages & Income at the top
2. Scroll down to Other Business Situations
3. Select Sale of Business Property
4. Select Sales of business or rental property that you haven't already reported.
5. Answer 'Yes' to Do all of the following apply...?
6. Enter your sales information, do not make an entry for depreciation (no zeros)
   1. Description of the Property (Second Home/Previous Rental Home)
   2. Date acquired and date sold
   3. Total Sales Price
   4. Cost (Original/Improvements/Sales Expense)
   5. Depreciation

@KenjiT