Anonymous
Not applicable
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Depreciation recapture on rental property on which no depreciation was taken
I understand depreciation recapture and what the IRS says about it. What I need help with is making TT do it.
I used TT from the first year that I converted my house to a rental. I never entered the property as an asset, so no depreciation was ever reported.
I sold the property in 2020. How do I answer the question "Amount of Depreciation Taken in Prior Years"?
TT autofilled the box with what I'm assuming is the amount of depreciation I should have claimed. Since I claimed $0, should I change that to 0?
Topics:
ā€ˇFebruary 2, 2021
10:02 AM