@rmilling3165 wrote:
Skip forward to 2022. For 2022 is it correct that the entire 1250 gain was recognized in the prior year (and offset with the short term capital loss carryforward) and therefore there is no 1250 gain to carryover to 2022.?
Turbotax still has 94K of previous depreciation and is now taxing this at I believe 25 percent. I think for the 2022 projection I have to force the 1250 depreciation to be zero (since it was all recognized the year before and offset with the short term capital loss). Am I correct in doing this?
Yes, that is correct, that has all been accounted for.
The last time I checked, I think the program handled it correctly, so you may not need to force anything. Is the 1250 Gain showing up on Line 19 of Schedule D?
