TaxGuyBill
Level 15

@Young-TP wrote:

Thank you. Even though the sale was a loss (and I believe that is because if the area, and it being a military town, IDK) proseries is still taxing them on the depreciation recapture.


 

It sounds like it was sold for less than the original purchase price, but for more then its Adjusted Basis.  So for tax purposes, that is a gain (not a loss).