How do I get TurboTax to properly divide a sold rental house between section 1231 capital gains and section 1245 ordinary income (allowable depreciation recapture)?
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How do I get TurboTax to properly divide a sold rental house between section 1231 capital gains and section 1245 ordinary income (allowable depreciation recapture)?
posted
June 1, 201912:37 PM
last updated
June 01, 201912:37 PM
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How do I get TurboTax to properly divide a sold rental house between section 1231 capital gains and section 1245 ordinary income (allowable depreciation recapture)?
The assets would have to be on separate Asset Entry Worksheets. The house would be on one for the 1231 gain. Any personal property item(s) would be on its/their own AEW (properly classified by Type) for 1245 treatment.