Young-TP
Level 3

You're confused?? I'm so confused.

Purchased June 2009 as a personal residence. Turned into a rental November 2011. Has been a rental until sale 2-4-22. Been stationed at multiple  places, decided to sell the rental. There is a loss on the rental. I completed the asset entry worksheet, and the home sale worksheet.  Home sale worksheet is a loss so the asset entry worksheet will not let me link it. I guess my biggest question is will they be recapturing the depreciation taken? SL was used. I thought losses did not have to recapture depreciation.

Any help would be greatly appreciated. thanks

PS. They also sold their main home in another state but I can handle that one. surprise..

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