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bhubertax
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recapture of sec 1250 dep

How do you report recapture of Sec 1250 dep on installments sales carried from previous years.  This is first year that I am using Turbo so there are no carryforwards set up.

 

 

 

 

 

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2 Replies

recapture of sec 1250 dep

You will report recapture of Sce 120 depreciation on installment sales carried from previous years on Form 6252.  

 

 

Here is a TurboTax article about installment sales.

recapture of sec 1250 dep

Wait.  How do you have Section 1250 recapture carryover?

All depreciation recapture is recognized in the year of sale so there can't be any carryover.

 

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

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