Questions: I have filled out form 8824 and the boot amount is shown correctly, generating a tax liability on my 1040. However, I also have indicate the depreciation recapture for the relinquished rental property. I think there is an area on 8824 to do that,
not on the actual 8824 but in Turbotax the recapture goes on line Q of the 8824 (forms mode) and is the smaller of the boot or the depreciation taken on the relinquished property. in interview mode it's the screen that says Section 1250 property and asks about the depreciation.
*********************
you do not fill out form 4797. it's automatic from the 8824 (the gain will be on line 5)
************
there should also be an Unrecaptured 1250 gain worksheet. you won't see it if you are using online until you preview or print all forms and schedules. this does not go to the iRS.
on schedule D the entire gain is on line 11 while the 1250 recapture is on line 19. this is not double reporting just how a portion or all of the gain on line 11 is taxed
