2018 sold residential property that I had rented for past eight years. When asked if the asset was used for business only during ownership, I responded no since it was my personal residence for 16 years prior to conversion. The following screen tells me it cannot compute sales info. I am working with turbo tax home and business (2018)
Additionally, when doing recapture depreciation, I understand I have to enter individual sales amount for all capital improvements while a rental. Do I also have to break up sales price into Imprv and Land values? How is a reasonably intelligent person going to put a price on a "remodeled bathroom" or a new roof" as if it is normal to buy a used roof or bathroom. When dividing selling price of a asset like an air conditioner that has 4+ yrs of depreciation (original cost as basis), resulting in over depreciation unless you tack (proportionally) 30% to cover cost of land and fees?
