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Canoeing with friends........ Indoor magic with pets......... Snowball fight with a neighbor........ A warm bath after the winter chill.....

That is correct Judy. Section 1015 applies so basis for gain and basis for loss must be tracked separately. That task can be made simple with a spreadsheet.

You're missing one GIF of hot cocoa.

No, the amount in box 9 is more than informational. It indicates the amount of depreciation taken but is unrecaptured because depreciation on the asset sold wasn't using accelerated depreciation, however that amount has the potential to be taxed at a maximum rate of 25% but could be less depending on the other income on the return. That box 9 amount will be incorporated in the Sch D worksheet. This link that I included above has a more detailed explanation: https://www.taxcpe.com/blogs/news/recaptured-and-unrecaptured-real-estate-rental-section-1250-gain