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How do I calculate the total depreciation recapture for a Rental Prop I sold?
Hi,
I sold a rental property purchased in 2009 in 2019.
During this time it has always been rented and I have taken depreciation all these years.
However, I only used Turbo Tax since 2014 so TTax may not have the correct depreciation total taken since 2009.
- Is there a place in TTax to see this total amount and where it came from?
- Am I correct to do a sum of all the depreciation amounts noted in Sch E line 18 or line 20 from 2009 to 2018 to find the total depreciation I have taken and use this amount as the depreciation recapture amount in TTax 2019?
- If the above is not the proper way to do it, how should I do it?
- Where do I enter the total depreciation amount to be recaptured in TT 2019?
thanks!
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‎February 24, 2020
8:46 PM