- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
If you have Rental Assets you have been depreciating, Edit them and choose 'Converted to personal use' to avoid having to determine a Sales Price. Or, you can use a Sales Price of $0 for each asset.
You won't have to use the Sale of Business Property section in this case.
For a rental property sold for a 42K profit, plus 29K depreciation recapture, your 67K gain seems appropriate.
Click this link for more info on Rental Property Sale Gain Calculation.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 24, 2022
11:54 AM