Investors & landlords

Double check your depreciation recapture (you show + $131K) the tax rate is 25%.  ($131 x 25%)=$32K is your tax bill for depreciation.  So if your are doing it as shown you might be using a long term rate (~15%) which is incorrect for depreciation recapture or you might be double counting.  I'm working on a rental property sale myself.

 

Also you should use percentages derived tax records, not the stated value for land $.  (Tax assessments don't usually equal the true market value at time of purchase or when converting to a rental).  Thus when you sell you will take the Sales price 2022 * land % from 2010 = land value in 2022.  Land can appreciate in value (regional dependent).  

 

Not a tax professional, but have owned rentals for 30 years and have had to do lots of reading and research.