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Investors & landlords
So I have the house in Column/Property A and the Foundation in Column/Property B...
That is correct.
is there a way to just combine the totals into Column/Property A
No, unless you want recaptured depreciation to be taxed at the capital gains tax rate, instead of the ordinary income tax rate. Even then, that would not be correct. The program is handling it correctly. What matters for taxes is NOT how many columns are used on the form. What matters is the math performed for lines 30-32.
‎April 23, 2022
11:09 AM