Investors & landlords

You will need to check how the numbers flow on the tax return, but my first thought is that it will work out okay.

 

After lowing your Basis by the depreciation, let's say your gain is $50,000.  When you enter the "depreciation after 1997", you would essentially be telling the program "OF the $50,000 gain, $11,900 of that is from depreciation".  So the program would view it as $11,900 of the depreciation and $38,100 of other gain.