In TT H&B 2020 desktop version, when reporting the sale of partially depreciated improvements on a 100% business use asset, I am not clear how to fill out the sales price and sales expense fields. I understand that I need to do this in order to allocate the sales price of the house between the house itself and these improvements, reducing the reported sales price of the house asset by what is allocated to the improvements. What I don't understand is how to do that in such a way that TT will handle the fact that only part of these assets have been depreciated so far.
Do I simply add up the depreciation taken in prior years and the current year and use that for the sales price, ignoring the sales expenses.. or is there a different way this is done?
