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Investors & landlords
I tracked down the Fed payment. The sale of the house invoked a 4797, which invoked an Unrecaptured Section 1250 Gains which calculated the Fed tax owed instead of using the 1040-SR l Taxable Income line11b.
Off to look at OR and CA.
I think CA is $0, since they shuffled off 3.33% of the gross sales price of the home.
I think OR will probably be the missed tax from the boot from the sale of the house, in 2012, that I used to purchase the one I just sold.
Once I understand it better I will look into either a local tax professional or LIVE. I just need to know why and what is happening, first. I have been stung by "professionals" and support personnel in the past.
‎September 17, 2020
4:55 PM