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Is the depreciation recaptured for the year the rental property is sold?
A multiyear rental property was sold in 2021. In TurboTax Premier, to calculate depreciation recapture, only the prior years' depreciation can be entered, which excluded the depreciation in 2021. The 2021 depreciation was entered in Schwab E but was not included in the depreciation recapture. So I just wondered if the depreciation in the year when the rental property was sold was not recaptured. If I am wrong, please advise. Thank you.
‎February 3, 2022
10:40 AM