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Investors & landlords
So for the remaining 22.5k roof asset i will
1>sell roof for 22.5k for a 0 gain
2>no expense of selling, keep selling expenses all on building
3>add 22.5k to cost basis
4> assume Form 4797 gets the recaptured depreciation of 5k
Is this an acceptable approach, or are there errors?
Thanks
‎October 3, 2021
3:15 PM