New, Used, or Converted (Building) Form 4562

[Steven Horvath]

Just hoping you all here could give me a hand, i am filing my taxes online with rental income for the first time and i need help with this form-

New, Used, or Converted (Building) Form 4562

Which describes this property on the date you first started using it for business purposes?

New property
Used property
Personal use property started using for business -This one

Date of purchase (MM/DD/YYYY)
Cost or adjusted basis on conversion date
Fair market value on conversion date

Cost or adjusted basis on conversion date- is this what i payed for the building only? or building plus land. also can i add all the rehab i did? i saved the reciets. Can i add labor as long as its reasonable? i have no reciets for labor.

Fair market value on conversion date- is this the apprasied value?
Thanks!
steven