Hi Carl,
Thank you for your prompt reply.
I did not mean that TurboTax's calculation was wrong; I wish I had the capability or maybe the knowledge to decrease the depreciation in my previous years filings so that I pay less taxes after the sale of this property.
I also have another quick question that I stumbled on while populating the fields for the sale of this property. I was asked whether it was a business or investment. I have a regular job so this must be an investment I presume. Please confirm.
Thanks,
-Omar
