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Deductions & credits
Rounded numbers....Sale of home $509k. Selling expenses $35k. Purchased home for $469k, but did a remodel for $60k, Converted AC to refrigerated air for $16k. So my basis was way over what I sold it for. Depreciation taken in previous years in my home office deduction was $4,379 (so not big dollars). I just don't see Turbo Tax calculating recapture. Maybe because my loss is enough based on your initial comment?
‎December 28, 2020
10:07 PM