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How to handle the sale of rental property with multiple improvements
I have a rental property that was purchased in 2006 with major improvements done in 2007, 2012, 2013 & 2014, each with their own line item on the depreciation schedule. There also two line items of refinancing fees.
How do I enter the sale in Turbo Tax? Do I have to prorate the sale price against each line item?
The property was sold in June of 2022.
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March 18, 2023
2:11 PM