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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- GAIN ON SALE OF RENTAL PROPERTY
GAIN ON SALE OF RENTAL PROPERTY
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Twaxpool56
Level 2
03-02-2022
10:00 AM
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Client sold a rental property. Do I include the accumulated straight line depreciation of the building in the gain of the sale?
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GodFather
Level 8
03-02-2022
11:08 AM
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This may help some.
https://learn.roofstock.com/blog/rental-property-depreciation-recapture
TaxGuyBill
Level 15
03-02-2022
11:14 AM
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Fill out the Asset Entry Worksheet, and it should report things correctly.
