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April 12, 2024
Question

Does anyone know how to get TurboTax to properly calculate taxes for majority capital gains on sale of rental property at 20% instead of based on ordinary income?

  • April 12, 2024
  • 1 reply
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1 reply

KrisD15
April 12, 2024

If you have Depreciation Recapture (which if you have any gain, you have Depreciation Recapture) that is Ordinary Income. After that, any profit would be Capital Gain.  

 

 

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