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Level 3
July 17, 2022
Question

Depreciation Recapture

  • July 17, 2022
  • 1 reply
  • 4 views

Does Tax Advisor calculate depreciation recapture if a taxpayer sells rental property?

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1 reply

Moderator
July 18, 2022

Hello, and thank you for your feedback! currently depreciation recapture can be entered under the section Investment Income. There is not a section to report the sale, the depreciation recapture would need to be entered.  

Level 3
July 18, 2022

Would think that Tax Advisor would calculate depreciation recapture upon the sale of a rental property.  Current version of product doesn't offer the level of sophistication necessary for a comprehensive tax plan for clients.