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Level 3
Jul 17, 2022 6:42 PM UTC
Question

Depreciation Recapture

Does Tax Advisor calculate depreciation recapture if a taxpayer sells rental property?

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2 replies

Moderator
Jul 18, 2022 5:14 PM UTC

Hello, and thank you for your feedback! currently depreciation recapture can be entered under the section Investment Income. There is not a section to report the sale, the depreciation recapture would need to be entered.  

Level 3
Jul 18, 2022 5:27 PM UTC

Would think that Tax Advisor would calculate depreciation recapture upon the sale of a rental property.  Current version of product doesn't offer the level of sophistication necessary for a comprehensive tax plan for clients.