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Investors & landlords
In addition to all the other discussion regarding depreciation, et. al. you indicate that you received "boot".
This means that you have gain which will be taxed.
Not sure if the accountant provided you with that detail as well.
My recommendation would be to use the accountant for this years return.
TT is designed for the masses, and your scenario is outside of that general realm. Can it be accomplished within TT, definitely, but not without you understanding what needs to be done and how it needs to be input in order to arrive at the correct bottom line.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎December 5, 2023
7:49 AM