narayananvm
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@RobertB4444Thank you for the clarification. Yes, I did mention about investment income tax. This is great overall, then!
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I researched further (thanks tohttps://www.wallstreetmojo.com/depreciation-recapture/) and understood the following:1. The recapture of depreciated amounts are,...
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Thanks@Carl, good to know! Apologies to beat the dead horse, but curious: If the recaptured depreciation is treated as Ordinary Income, how come there is a "max...
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@Carl@PatriciaVThanks for the prompt response. I understand, I should not include the cost for roof replacement for the adjusted cost basis calculation. Follow ...
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Sorry, I really didn't quite understand which precise section this link is pointing to. Can someone clarify the existing IRS rules w.r.t to my specific situatio...
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- Posted Re: Can I include Roof replacement done by Seller part of rental property assets valuation on Investors & landlords. April 19, 2023 5:03 PM
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- Posted What all deductions I can claim from my Single Family Home purchase in 2022 on Investors & landlords. April 10, 2023 9:26 PM
- Posted Re: How to claim rental expenses from personal-to-converted rental property with no income? on Get your taxes done using TurboTax. April 10, 2023 7:41 PM
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- Posted Re: How to claim rental expenses from personal-to-converted rental property with no income? on Get your taxes done using TurboTax. April 10, 2023 3:27 PM