Hi, I follow the first half of this with no problem. I don't follow the second half at all. I entered in the "Asset" with the new basis, land cost and dates for in service, and "sold" and date sold. I proceeded to put in the sale price, land cost (no gain/loss on the land) and the expenses related to sale. It did calculate the prior depreciation for the 5 years or so for me and it matches.
What is the 2nd half of your response exactly? I tried to follow what you mentioned, but it basically just takes you back to the same questions. Maybe I'm not following something right here? I'm also using the desktop software version of TT 2021 - Home and Business.
I'm really struggling with the gains this software is calculating as they just do not make sense and are way higher than it should be. With no support from turbo tax for desktop software users, I'm very stuck here. Is there any way for you to reach out or help me figure this one task out? It's the only thing holding up these taxes and I'm at my wit's end.
