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Commercial Property Sale with Asset Depreciation
I sold my commercial property in July 2021. (self rented for my own business, which was also closed.)
I have separated the building and land in the sale (under Rental Properties) when I indicate the building has been sold. Is there a step-by-step instruction to handle the building improvements that were added as separate items each with their own depreciation? I have told Turbo Tax the assets have been sold with the building sale date.
Thank you,
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‎February 17, 2022
8:06 AM