Questions:
1. Is the tax number on line 47 of Sch. D Tax Worksheet is the total tax for the Ordinary Income and Capital Gain portions only ... but not the tax for the Recaptured Depreciation? Look again ... the depreciation recapture is reflected in that calculation especially if you are using the TT program to do some what if's. The recapture is taxed as ordinary income not to exceed 25% so you may see no difference at all.
2. The 25% tax for the Recapture Depreciation will be calculated and added on separately by TurboTax? Again review the worksheet again carefully.
3. I also have $4,000 unallowed loss from 2021 and the overall gain number shown on Form 8582 that was never asked to be used any where in calculating my tax estimation. Will TurboTax automatically adjust this loss and overall gain numbers to calculate the correct tax amount? Prior year unallowed losses are released in the year of sale to line 18 of the Sch E ... look there for that amount.
