Nathan White
Level 1
06-25-2020
02:02 PM
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abctax55
Level 15
06-25-2020
02:31 PM
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Which form are you expecting it to appear on?
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TaxGuyBill
Level 15
06-25-2020
02:34 PM
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Depreciation of a rental home is not "recaptured".
The depreciation lowers the Adjusted Basis of the home, and when it is sold any GAIN that is based on that lowered Basis is called "Unrecaptured Section 1250 Gain".
That should show up on page 2 of Schedule D (Line 18-ish?"). Is it showing up there?
abctax55
Level 15
06-25-2020
02:40 PM
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Stop it, Bill... I'm trying to teach 'em "how to fish".
"*******Tax software is no substitute for a professional tax preparer*******
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TaxGuyBill
Level 15
06-25-2020
04:39 PM
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But I'm trying REALLY hard to procrastinate doing work. 😁