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Get your taxes done using TurboTax
To simplify this, you would take your total capital gain (noting that the total gain is based upon your adjusted basis, which basis is reduced by your accumulated depreciation) and then the accumulated depreciation is taxed at a different tax rate (0-25% depending upon your other income).
Again, importantly, the program will do the calculations for you.
‎October 18, 2023
8:52 AM