TaxGuyBill
Level 15
07-13-2020
01:27 PM
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The program does that all automatically. Other than reporting the sale, you don't really need to "do" anything.
The gain due to the depreciation should show up on Line 19 of Schedule D.
As a side note, it is not "ordinary income". It is still a "capital gain", but it is taxed at ordinary rates, up to 25%.