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Investors & landlords
Hello,
I am not sure which post you're responding to, but I was just piggy backing off someone else's whose scenario was somewhat similar to mine (pls see my post here: https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-to-enter-deprecia...)
So assuming you were talking about my post, then yes, there is a gain. And no, not from scratch as the rental property went into service in 2018. Yes, reporting as casualty loss in form 4684. I just don't know how to "recapture the depreciated assets" as I was advised to treat it as a sale of the house portion only.
March 29, 2022
8:58 AM