abctax55
Level 15
03-06-2026
02:24 PM
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The 'basis' on the depreciation schedule should have been adjusted for the deferred gain in the year of purchase.
Hopefully, the required CA Form 3840 has been filed for all these years.
Now that the property has been sold, a CA 540 (or perhaps a 540 NR?) is needed to report the gain & pay the taxes due.
HumanKind... Be Both