Thank you for the information. My condo has been a rental the entire time I’ve owned. I have accumulated depreciation for 18 years. When I enter the adjusted cost basis which includes the accumulated depreciation, I owe $7629 in federal tax. Several questions/screens later the program asks the amount of depreciation (still under the same rental sale), when I enter the amount (which was included in the adjusted cost basis) my tax increases to $14903. It seems I’m being charged twice for the depreciation. Not sure if it matters, but my taxable gain shows $149775. My regular income is $84k and I file standard deduction.
