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We sold a building and I reported it on form 4797. We had a gain of which a portion was unrecaptured depreciation and remainder was capital gain. My problem is that the total gain is transferring to schedule K line 10 as well as the unrecaptured depreciation on line 9c. My question is how do I get the correct capital gain amount on line 10 schedule K instead of the total gain.
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Generally the software does handle that correctly.
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The unrecaptured 1250 is part of the total capital gain.
The more I know the more I don’t know.
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Yes I understand that but why is the unrecaptured section 1250 gain on line 9c schedule K also being included in the net section 1231 gain on line 10 schedule K. Then the K-1 form is the same for lines 9c and line 10.
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You have a similar question in the Lacerte section, here:
Which specific program are you using?
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