@LB641 wrote:
This is why a simple (layman's) step by step would help.
The step-by-step would primarily consist of you making the initial calculations manually.
You know your selling price less selling expenses, so that is the first step.
Second, you would add the cost of all of the improvements made to your initial cost basis of the real estate to arrive at the total basis you will report in the program.
Finally, you would add all of the depreciation deductions you had taken over the years (for all assets) to arrive at your total accumulated depreciation figure (and would enter that figure in the program).
You could then convert the improvements made to personal use in the program and report one total sales price (less selling expenses) with one basis and one figure for accumulated depreciation.
