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Get your taxes done using TurboTax
Without more detail, I can only speculate that you are confusing "gain" with "taxable gain", keeping in mind that the recaptured depreciation will be taxed anywhere from 0% to a maximum of 25%.
I've seen this type of confusion in the past. Now I don't recall the detail, but I "think" you can see the details on the form 4797 with the results on SCH D. Again, not really sure on that.
I also can't recall if the recaptured depreciation is subtracted from the cost basis, or added to the sale price.
‎October 13, 2021
5:27 PM