TaxGuyBill
Level 15
07-17-2021
02:50 PM
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@SG900RR wrote:
I know I need to recognize the business portion of the gain and recapture the depreciation
Unless the Home Office was a separate structure, you don't need to recognize a business portion of the gain. You only need to factor in depreciation.
As for the depreciation, there is a spot for depreciation on the Home Sale Worksheet. Just fill in that with the depreciation from both Home Offices.