I have filled out the sale info for a residential rental and a commercial bldg rental. Everything seems to flow through except I have always been told about depreciation recapture. I put in the asset information in and the depreciation amounts show correctly with the gain being the Sale Price less Selling Costs and less net depreciated basis (Bldg cost less acccum Depreciation)
I saw on internet that there is no recapture if straight line is used and no bonus depreciation taken. Is this correct and if not why is Turbo Tax not doing any recapture. Am I missing an entry somewhere?
Appreciate any help.
Mike
