TaxWander
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Super helpful! One clarification, the capital gains will be 0 (since the total gains are less than the 500k exemption for a joint return). However I'm trying to...
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Thanks, helpful! Could you throw some light on the tax calculation approximation approach? Reason I"m asking, is the tax due via quarterly estimated tax (when t...
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To clarify the recapture of the depreciation is just on the part that was being rented and not the entire home right? So basically if one took the accumulated d...
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Thanks. If I decide not to amend the prior returns, I’m trying to understand what happens to the 100k land value? Can I use that when selling the house? Is the ...
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I’m curious about one thing though. If I bought the residential property for say 400k in 2015 and the CPA used 300k as the cost basis in 2021 when I started ren...
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