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Handling Depreciation for Year of Sale
When a rental property is sold on the company books I include the current year depreciation in the basis and gain calculation. It seems that TT is backing out current year depreciation for the properties which have sold which makes TT depn not match books. Do I need to back out current year depreciation from the basis I am entering in TT? Be kind if this is a really stupid question. Tax time is getting to my brain.
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‎September 9, 2021
4:18 PM