Thanks It has been a rental property since I purchased it in 2005. Bought it for 235,000 and sold it for 139,900 less closing costs of around $8,000- Turbo Tax calculated the depreciation at around $80,000 and is giving me a NOL of $106,066. That sounds like too high a number if you factor in the deprecation of around $8,000 per year for 10 years or 80,000. Our income for 2016 will be a LOT less than that, probably around $20,000
