Updated about 5 years ago on .
LLC rental property sold
Hi, just sold my rental property held in an llc.
1) 1099S will be reported on 1065, but how do I increase the cost basis of the house with the improvements made? i.e. new outside hand rails? What if those improvements were made before it turned into a rental property?
2) Recapture depreciation - assuming that means I have to add back to my cost all the depreciation claimed during the rental years?
3) Are there any other places that I have to claim my sale? Schedule D or form 4797?
Thank you!



