Thanks for the replies. To give some figures, when I converted from main residence to rental (in 2016) adjusted basis was approx $260k and fmv $225k. So I used $225k. Depreciation up to date of sale has been $35,286. Net sales proceeds are $364,828. I went through the TT interview questions and, ignoring for the moment the land/house breakdown it is showing a gain on sale of business property of $175,114. The program has used the figure of $225k to calculate gain. I am a recently retired EA so I understand the tax issues. I used TT for the first time last year for 2020, so am still not very familiar with it. How do I enter the adjusted basis of (approx) 260k into the calculation of gain? I went through the questions one by one and was never asked what the adjusted basis is. TT behind the scenes has used the depreciable basis which I entered into Turbo Tax last year when I input the rental details.
