Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Rental property sale and recaptured depreciationl

user168033
Level 2

How to recapture depreciation on residential rental property sale Pro Series that has building, capital improvements  and appliances,?

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Just-Lisa-Now-
Level 15
Level 15

ProSeries wont bundle them all into one bulk sale for you, you have to allocate a portion of the sales price to each asset in the disposition area of each asset entry worksheet.

Theres another thread that was posted in the last week or so explaining this and it had a couple shortcuts that might help if you want to go digging.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

0 Cheers
3 Replies 3
Terry53029
Level 12
Level 12

Go to each asset worksheet, and scroll down to disposition. Fill in sale date, and other info. Program should help you from there.

Just-Lisa-Now-
Level 15
Level 15

ProSeries wont bundle them all into one bulk sale for you, you have to allocate a portion of the sales price to each asset in the disposition area of each asset entry worksheet.

Theres another thread that was posted in the last week or so explaining this and it had a couple shortcuts that might help if you want to go digging.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

0 Cheers
user168033
Level 2

Lisa  Thank you for your help. That is what I did when I prepared the return. I was hoping  there was a simpler way. I will research the short cuts you mentioned.

Bo