TaxGuyBill
Level 15
01-20-2022
06:00 PM
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@IFB wrote:
I entered -0- on line 26g because there should be no recapture of depreciation, but the program still puts the whole amount of the capital gain on the Schedule K, and then on the K-1's under both unrecaptured 1250 gain and section 1231 capital gain.
Line 26g is for "recapture" (depreciation in excess of straight-line). That is completely different than "Unrecaptured Section 1250 Gain" (gain due to the basis reduction using straight-line depreciation).
So if you had straight-line depreciation and if you had a gain on 1250 property, you SHOULD have Unrecaptured Section 1250 Gain on the K-1.