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Investors & landlords
Take a look at your form 4797 and follow the lines.
Recapture is determined in Part III and then carried to other parts of the return.
As an example, Section 1245 recapture on line 25b gets totaled on line 31 and is then carried to Part II line 13 and ends up getting taxed as ordinary income.
Once again, either print out your return and follow the forms or review it online.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
Also keep in mind the date of replies, as tax law changes.
‎October 9, 2021
5:19 PM