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Recapturing Depreciation from 21 years ago
Last year we sold our home which we had owned for 32 years. We rented out the home from 1988-1999. I was in the military at the time and as we wanted to return to the home to live in after I retired, we rented it while I served in various military assignments. In reporting the sale of the home Turbotax software asked for the depreciation I declared on the home from May 6 1977 until we returned to it in 1999. I declared the standard MACRS deprecitation. I do not have any documentation to support it. I was then asked to enter the AMT depreciation for the home. How do I calculate or recover this information. Any ideas on how to solve this dilema?
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May 7, 2021
6:28 AM