@Carl Thanks, that helped with some of my questions about selling our previous primary residence that we rented before selling. I'm not clear about how you handle deducting partially depreciated assets other than the house from the house sales price.
Do you simply deduct the depreciation taken previously and will be taken the current year of the sale from the house asset's sale price, and have the sale price of the asset be that depreciation... or do you need to do something else to offset what depreciation has not been taken yet (because maybe it would be included otherwise)?
Also, one more somewhat related topic: what about loan points?
I understand how tangible assets like improvements or furniture get sold with the house, but not clear about loan related items, as loan items are often disregarded in closing costs, etc for the basis.
Do intangible assets get "sold" with the house too, such that the sale price of the house gets allocated across them too, or is that only tangible ones that you do that with?
And does it matter if the depreciation was all taken on them yet?
Thanks again!
