jonpagel
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Ok thanks….couple questions…what about an appliance that is only 3 years old and is on a 5 year schedule?the house was purchased in 2007 and the sewer was only ...
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Ok but if you assign $0 to the sales price then it is neither a gain or loss and the IRS doesn’t get that depreciation I took on it years ago back….is that ok o...
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Ok so every asset do the original cost plus $1 and enter that as the selling price for each item, add those up and subtract from the sale price and that number ...
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Ok that makes sense on how to enter it assuming every asset you have ever had has to have the depreciation recaptured….but people talk about putting the FMV val...
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So for an appliance still in use but maybe 8 years old that is fully depreciated what does the IRS want? If it was $1000 brand new and it has depreciated fully ...
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- Posted Re: Depreciation info when selling rental on Investors & landlords. February 7, 2023 12:52 PM