The asset is a single family rental home. It was rent all of 2020 and sold in December - contract is an installment loan. Down payment of $20k with the remainder to be paid in 3 additional payments by the end of June 2021. Turbo Tax calculates the gain on the down payment correctly, but does not show the full recaptured depreciation for 2020 - it is deferring it to 2021. This is not correct. Tax laws says all of the recaptured depreciation must be captured in the year of the sale - 2020.
