I'm confused. Am I adding the amount of depreciation recovered to the purchase price of the house? Where do I enter closing costs? Total proceeds were not $30K, which is what the 1099-S shows. Part of closing was paying the loan off. I'm sorry I'm taking up so much of everyone's time, but I need to get this sale right. Can I take the depreciation deduction for the 94 days the house was rented? It would be nice of TurboTax had a tax professional I could talk to. I'd be willing to pay to have someone walk me through what needs to be done. Is that an option? I do not need my taxes prepared. I just need to get the sale of my rental property in correctly.
