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Level 1
June 25, 2020
Question

I can't seem to get recapture of prior depreciation of rent house into Forms

  • June 25, 2020
  • 2 replies
  • 28 views
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2 replies

abctax55
Level 15
June 25, 2020

Which form are you expecting it to appear on?

HumanKind... Be Both
Level 15
June 25, 2020

Depreciation of a rental home is not "recaptured".

The depreciation lowers the Adjusted Basis of the home, and when it is sold any GAIN that is based on that lowered Basis is called "Unrecaptured Section 1250 Gain".

That should show up on page 2 of Schedule D (Line 18-ish?").   Is it showing up there?

abctax55
Level 15
June 25, 2020

Stop it, Bill... I'm trying to teach 'em "how to fish".

HumanKind... Be Both
Level 15
June 25, 2020

But I'm trying REALLY hard to procrastinate doing work.   😁