mccormickgc
Returning Member

Get your taxes done using TurboTax

That is sort of what I figured.

 

These assets are essentially a part of the overall home sale. If I had not had the home office , ANY capital gains would have been deferred to the next home sale. I think I can accomplish that if I allocate the portion of the sale for these assets to just be the book value for the assets. That way the Sec 1245 depreciation recapture will work with no capital gain on these assets and the gains would roll to the general home sale in the Home Sale worksheet and to the future.  It looks like I would have to override the links from the home office asset sheets to Line 30 on the Home Sale worksheet to get both the Sec 1250 and Sec 1245 recapture in Line 30. Would also have to do this for Line 10 and A1 on the Home Adj worksheet.  Sound OK?