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gschwemer
New Member

1250 unrecaptured gain carryover

In my 2018 turbotax filing, I had an unrecaptured gain carryover from a rental sale, but as of 1/20/20, it is not in my 2019 home and business turbo tax.  Am I waiting for a future 2019 turbotax update or ???

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1250 unrecaptured gain carryover

Can you clarify what you mean?  There really isn't such a thing as a carryover for that.

Did you sell it via an Installment Sale?

 

When you sold the rental, you may have had "Unrecaptured Section 1250 Gain".   That is the tax based on the depreciation.  That does NOT carry over (except sort-of for an Installment Sale).  That all should have been dealt with on your 2018 tax return.

 

In 2018 you may have also had "Passive Loss Carryovers" from previous years.  Again, that all should have been dealt with on your 2018 tax return.

 

Please clarify what you mean, and provide details with what you think should have been carrying over.

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