alejaja
Returning Member

Capital Gains on a depreciated Rental property? How do I calculate this?

Example numbers:

 

Paid 100k for a house used as a rental

sold for 200k.

 

depreciated each tax year while renting it from initial value of 75k (for house, not land) down to 25k the year I sold it.  (50,000$ depreciation)

 

How much 'capital gains' is taxable here?     how do I add the depreciation 'income' into Turbo tax?