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.