Thank you. I do not really understand how to prorate.
A little more info. I have used Turbo tax Premiere since I purchased the Condo. I originally enter the condo unit as an asset with value of 123k. I then input the individual assets for the remodel at that time as well (Flooring, Cabinets, bathroom redo's, counters tops, appliances, etc...). Turbo Tax tracked all the depreciation over the years 60K+/_.
In March of 2021, I sold the unit to an investor for a Cash out offer (no fees on my part) for 125k. Are you suggesting that I should reduce the sales price by a prorate of the 18k remodel? How is the prorate calculated?
thanks again, Richard
