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Investors & landlords
Yes your basis is 100K. I was merely trying to point out that the depreciation on the original property doesn't disappear. Should the replacement property be sold at a gain the depreciation on both the original and replacement property are subject to recapture. The issue is I don't think Turbotax tracks the original depreciation. So that's something you'll have to do and take e into account if the property is sold in a fully taxable transaction.
‎February 28, 2024
6:54 PM