I am completely confused and depending on how I mess around with the numbers it creates a huge swing from refund to owing.
Bought a condo in 2006...paid $133,500. By 2011, I had to rent it out because the market had dropped. I rented it out at a break even/loss each year til 2016. I sold it in 2016 for $113,500 (also had to put $10K in to it to sell and paid $4K in closing costs).
In previous years I think I used 60K as the cost basis for the place because that is what I could have sold it for give or take.
Now, if I continue that it shows a huge profit and I am fucked on taxes....when the reality is that I lost $$ on the place to the tune of $35K or more.
Any help? I'm not an attractive man, but will post nudes.