Question
Depreciation Recapture
A client sold a rental property and carrying the mortgage. I know that the depreciation has to be recaptured on the year the property sold while the rest of the gain can be spread out as they get paid. The software does not seem to recapture such or I may be entering the information incorrectly. Under the disposition of the asset, I added the sale price of the property and then the amount the owner is carrying. I have researched many articles and can't find any answers. Any thoughts?
Ana
