NDiMas
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I don’t disagree with you, but the issues I’m flagging with the program don’t really have anything to do with recent changes to the tax code. These are the basi...
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To be honest, I have found TurboTax’s whole approach to investment properties inadequate. From placing the property into service until final sale, the questionn...
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Thanks, Mike. That does make sense. If I did misclassify some of the improvements, is it acceptable to reclassify them now at the time of sale, or will that mes...
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Answering my own question here. It is because the depreciation on the original structure is considered "unrecaptured Section 1250 Gain." This article explains i...
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Ahh, thanks for the clarification on the in-service date."If you like, I can explain how that can (and probably will) bite you in the future when you sell or ot...
Activity Feed for NDiMas
- Posted Re: Why is TurboTax classifying depreciation recapture as long term capital gain? on Investors & landlords. March 7, 2023 10:21 AM
- Posted Re: Why is TurboTax classifying depreciation recapture as long term capital gain? on Investors & landlords. March 6, 2023 8:19 PM
- Cheered Re: Why is TurboTax classifying depreciation recapture as long term capital gain? for Mike9241. March 6, 2023 8:12 PM
- Cheered Re: Why is TurboTax classifying depreciation recapture as long term capital gain? for Carl. March 6, 2023 8:12 PM
- Cheered Re: Why is TurboTax classifying depreciation recapture as long term capital gain? for RobertB4444. March 6, 2023 8:12 PM
- Cheered Re: Why is TurboTax classifying depreciation recapture as long term capital gain? for Carl. March 6, 2023 8:11 PM
- Posted Re: Why is TurboTax classifying depreciation recapture as long term capital gain? on Investors & landlords. March 4, 2023 12:50 PM
- Posted Re: Why is TurboTax classifying depreciation recapture as long term capital gain? on Investors & landlords. March 4, 2023 10:01 AM
- Posted Why is TurboTax classifying depreciation recapture as long term capital gain? on Investors & landlords. March 4, 2023 8:16 AM
- Cheered Re: Estimating land value for home converted to rental property for Carl. February 19, 2021 8:41 AM
- Cheered Re: Estimating land value for home converted to rental property for Carl. February 19, 2021 8:40 AM
- Cheered Re: Estimating land value for home converted to rental property for Carl. February 19, 2021 8:40 AM
- Posted Re: Estimating land value for home converted to rental property on Investors & landlords. February 8, 2021 1:26 PM
- Posted Re: Estimating land value for home converted to rental property on Investors & landlords. February 8, 2021 12:33 PM
- Posted Re: Estimating land value for home converted to rental property on Investors & landlords. February 7, 2021 7:45 PM
- Cheered Re: Estimating land value for home converted to rental property for npierson7. February 7, 2021 5:08 PM
- Posted Re: Estimating land value for home converted to rental property on Investors & landlords. February 7, 2021 4:15 PM
- Posted Estimating land value for home converted to rental property on Investors & landlords. February 7, 2021 3:26 PM
- Cheered Re: Do I deduct this year's or last year's property tax on my rental? for ColeenD3. February 6, 2021 3:58 PM
- Posted Do I deduct this year's or last year's property tax on my rental? on Deductions & credits. February 6, 2021 3:17 PM