When you sell a rental the depreciation is recaptured as ordinary income and the rest of the profit is cap gains so you may indeed have a tax liability on the ordinary income portion of the sale along with any other ordinary income you may have. Save a PDF of the return and review the entire form 1040, the form 4797, Sch D and the cap gain worksheet.
You can view your entire return or just your 1040 form before you e-file:
When you sell a rental the depreciation is recaptured as ordinary income and the rest of the profit is cap gains so you may indeed have a tax liability on the ordinary income portion of the sale along with any other ordinary income you may have. Save a PDF of the return and review the entire form 1040, the form 4797, Sch D and the cap gain worksheet.
You can view your entire return or just your 1040 form before you e-file: