DavidD66
Expert Alumni

Get your taxes done using TurboTax

For the points which are not fully amortized, and any other asset that is not fully depreciated or amortized (e.g. the land) and allocate a portion of the sales proceeds equal to the remaining un-amortized value of the asset, and dispose of it for that amount.  This will result in no gain or loss or loss on those assets, and will reduce your proceeds allocated to the building.

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