cestmoijay
Returning Member

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.