Yes my depreciation was correct each year and you said the exact thing that my cost structure is now off. So how to correctly report the sale vs original purchase to have the right amount of capital gain for
- total purchase cost of $397.9k (I.e. $385k + $12k closing + $900 water heater)
- rental sale price of $470k with $35k expense (commission, closing, repairs, etc.)
please advice. And really thanks for telling me Ai don’t need form 3115.
