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Investors & landlords
Ok ... DEPRECIATION ... you have not started this section yet. You need to visit and read each and every section in this area ... read the screens carefully. ALL the sales expenses will be reported with the sale of the asset ... they are NOT common expenses.
Have you been depreciating the property in the past ? Is this the first year you have use the TT program ? If you have NOT been depreciating the propery over the prior years of rental use then RUN to a local tax pro to get this massive error corrected so you don't pay double the taxes on the sale.
‎October 16, 2022
6:04 PM