@igmcdowell wrote:And then if/when I finally sell the property, the gain will be higher from the lower basis. I assume I also need to correctly report the prior chunk of depreciation at that time for accurate depreciation recapture, right?
The DEPRCIABLE Basis may be different than the Basis for loss or for gain. TurboTax is NOT set up for that scenario, so you may want to go to a tax professional when you sell the property.
