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Investors & landlords
Form 8824 shows my given up property A with a deferred gain of $X.
I calculated its depreciation $D on my own.
I am still a little lost on where the enter this deferred gain of $X into Turbo Tax.
As you advised, I will enter the depreciation $D into the field for "Enter the depreciation claimed after May 6, 1997"
On the screen where it asks me about property B, in the Adjusted Cost Basis Screen.
Should I just subtract $X from the Original cost $Y of my replacement property B and enter that into the Original Cost field (see screenshot below)?
If not, where else can I enter the deferred gain $X into Turbo Tax?
‎April 4, 2024
11:45 AM