- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Step 1 ... in the rental section you will not sell the assets ... you need to convert them to personal use to stop the depreciation.
Step 2 ... get the current and prior depreciation figures off the depreciation worksheet ... use the Print Center to save a PDF with all the worksheets.
Step 3 ... sell off the property using the sale of home section and make sure to indicate you got a 1099-S form for the sale. Total the depreciation and enter it when prompted. Go slow and look for the military exemption question.
Federal Taxes, then
Wages and income, then
Choose what to work on, then
Choose less common income, then
Home Sale
March 5, 2022
5:10 AM