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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
Posted by ODP
Conroe
Member since Oct 2015
1938 posts
Posted on 2/13/17 at 11:11 am to
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 by SnukaD
Covington, LA
Member since Apr 2016
529 posts
Posted on 2/13/17 at 12:51 pm to
It's been so long I have no idea if I did. I guess I have to assume I did.

Thanks ODP
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