RobertB4444
Employee Tax Expert

Business & farm

The adjusted basis is the value of the house as shown on your tax return in 2022.  You need to look at the depreciable basis on your 2021 tax return and see what the basis is there and then copy it into your 2022 return (if it did not carry over automatically or if you did not use TurboTax last year).  The sale will have to recapture the depreciation that you have taken while the property was a rental as well as any gain on the sale.

 

@reza052759 

 

[Edited 09:07 AM 4/11/2023]

 

@reza052759

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"