pk
Level 15
Level 15

Investors & landlords

@Jimandpatti , in short you will pay ordinary income tax on the recapture portion of the gain and capital gain tax on any residual gain.  Your basis for  gain computation  is the acquisition basis  plus cost of improvements over the years LESS accumulated depreciation.

You can use TurboTax 2020 to compute your  gain and taxes thereon -- save the  filed return under a different name  and then make the changes --- I am assuming here  that you have the desktop version and preferably Home and  Business

Does that answer your query or do you need more help ?