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Get your taxes done using TurboTax
The calculator was just to show you how recapture works. Completing through step 3 is all that you needed to do. Depreciation is recaptured whether you took the deduction or not. These are IRS rules, so if you did not take the depreciation deduction, you might consider amending your prior year returns to do so. Yes, your gain counts toward your total income on your tax return. It's added in on line 13 of your 1040.
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‎April 5, 2018
3:37 PM