I am hoping to get help with understanding the potential capital gains and depreciation amounts that must be added to my income upon the sale of a 2 family house that I have owned since 12/17/1993. My wife and I have lived in ½ of the property and rented ½ of the property for the whole time. The total purchase price was $260,000 and sale price will be $1,000,000. There have been no major improvements and the rental unit has been depreciated over the years by $100,000.
Where are these numbers entered on Turbo Tax
Thank you.
