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Level 1
June 1, 2019
Question

Does turbotax premier tell you how to handle the sale of depreciated investment rental real estate property and how to figure recapture, adjusted cost basis, tax

  • June 1, 2019
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    Level 7
    June 1, 2019

    Yes, when you sell/dispose of business or rental property that has been depreciated you need to edit the asset in TurboTax. Through that interview, TurboTax will automatically figure the tax and place it in the correct forms.