Robert,
Thank you very much for having replied. I'm still unclear on one issue though.
On Form 6252, Part I, Turbo Tax carried over the calculated gross-profit percentage from my 2018 return but left blank the following.
1) Selling price - $245,750
2) Mortgages, debts - $119,700
3) Basis of property sold - $206,550
4) Depreciation allowable - $59,261
5) Expenses of sale - $3,110
I'm not clear why Turbo Tax asked me to complete these fields but carried over the gross-profit percentage from 2018. Do you know why this is so?
Also, I couldn't enter anything into the depreciation field and had to override it to put in a value. Overriding is considered a last resort, and I don't like doing it unless I've exhausted all the other options. Do you know why a value for the depreciation field can't be entered?
Thank you.
