Thanks Champ! Please bear with me as I want to better understand. As an example
Purchase Price $162,000 + Cumulative Adj -$130000 + Gain Subject to recapture as Ord Inc $62,000 equals Revised Basis $94,000. Sales Proceeds $68,000. $68,000 - $94,000 = Loss of $26,000. Am I correct so far? If yes, how does this get entered on the Sale Information worksheet? Thanks
