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Investors & landlords
In this case, I always divided the mortgage and property tax on my returns between a rental portion (40%) and a general Schedule A deduction (60%). When I report the sale of the house, do I have to split it between two sales - one for 40% which would have the information about the depreciation recapture and a sale for 60% that would all be excluded. Or at this point do I just report the sale as one sale?
May 31, 2019
5:46 PM