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ubia calculation rental residence disposition

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Level 2

I have complete dispositions of several  residential rental properties.  Some have an amount for UBIA,,some have zero....how is this calculated?

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Level 15

In general, the property must have been held and used by the trade or business during and at the end of the tax year.  In other words, properties that were disposed of before the end of the year will not count.  Neither will properties that were fully depreciated prior to the end of the year under the applicable recovery period count, except properties that were placed in service within 10 years of Dec 31, 2019 will still qualify.

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Still an AllStar

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Highlighted
Level 15

In general, the property must have been held and used by the trade or business during and at the end of the tax year.  In other words, properties that were disposed of before the end of the year will not count.  Neither will properties that were fully depreciated prior to the end of the year under the applicable recovery period count, except properties that were placed in service within 10 years of Dec 31, 2019 will still qualify.

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Still an AllStar

View solution in original post