Carl
Level 15

Investors & landlords

Glad to hear it works out. I wasn't sure it would. However, there's still one more thing to check. But you can't really check it until you have completed your tax return in it's entirety. Recaptured depreciation is taxed anywhere from 0% to a maximum of 25%, depending on your AGI. Of course, you can't know your tax bracket until you finish the tax return and get your AGI. So if  your AGI puts you in the 32% or higher tax bracket, that recaptured depreciation should only be taxed at the maximum of 25%.

Now I'm not sure (but maybe you can confirm) but I think the applicable percentage is shown as a decimal number on line 26b of the 4797. Note that the number can change, if you have not yet completed your tax return in it's entirety.