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re: Is anyone here an expert on depreciation of rental property after it's sold?
Posted on 2/13/17 at 11:11 am to SnukaD
Posted on 2/13/17 at 11:11 am to SnukaD
quote:
Ok, and I add that to the basis to lower my tax burden?
Turbotax really doesn't ask for any details, just the total sales price, tax basis(plus expenses of sale) and depreciation.
Oh and what about the expenses from the purchase of the property in 2001?
"Expenses of sale" should include all the incidentals that occurred in selling the house.
Hopefully, you deducted all the purchase expenses in 2001. :)
Posted on 2/13/17 at 12:51 pm to ODP
It's been so long I have no idea if I did. I guess I have to assume I did.
Thanks ODP
Thanks ODP
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