RP
Level 1
05-03-2021
06:24 PM
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TP Purchase Real Estate, Lived in it for three years and then converted it to Rental, after two years, He sold the property (last use was Rental) a a gain of $150000 .... I recaptured the Depreciation taken during the Rental Period and excluded all the gains (Irc121) >.. He never excluded gains on a property before ...
Any thoughts on whether this is correct will be appreciated .
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