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Investors & landlords
Any time you sell depreciable property, Form 4797 is required to prepared. Tax law requires to recapture all of depreciation taken as income in the year of sale. The law applies whether you claimed depreciation or not.
LOL..nearly forty years in that activity that "sucks"
I sold my rental property. How do I report that?
‎June 4, 2019
1:36 PM