Fernando B. asked
I sold a rental house in 2015 for a gain. Total depreciation claimed was $65,600, with $15,800 for improvements made in 2014, depreciated over 27.5 years. The unclaimed depreciation for the 2014 improvements needs to be added to the basis to reduce the capital gain. Where do I show the unclaimed depreciation on Schedule D, Form 4797, Form 3115, and the 1040?
October 25th, 2024
Allen O. answered
You should place the unclaimed depreciation under line 22 on Form 4797. Additionally, remember to ad...
October 25th, 2024
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