ThomasM125
Expert Alumni

Investors & landlords

You should just enter the sale amount less the selling fees when you report the sale of the assets. The program should have the correct accumulated depreciation amount and it should show when you report the asset sale. If not, you would need to add up the depreciation for the asset you are selling as is allowed in each year you rented the property.

 

If the building costs $140,000 then the annual depreciation would be that number divided by 27.5. If you multiply the annual depreciation by the number of years the property was rented, you get about $71,000 in accumulated depreciation.

 

 

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