What I really want to know, is, do I need to file the depreciation recapture tax with loss for sale the rental property ?

A twist, if I may ...
If the property was refinanced, what amount is used to determine the adjusted basis for the loss/gain calculation at the sale?
I refinanced a number of years back to lower the rate, at the time I took at loss rather than foreclosing -I actually had to pay out of pocket to pay off the difference between the balance on the original mortgage and the new refinanced mortgage?
say bought for $105,000, then when $88,000 was still owed, I refinanced for $46,000 and paid $42,000 to cover the loss in value on the property.

I now sold for $66,000.  Also ended up taking $94,500 in depreciation - using original price depreciation calculation for lifetime of ownership.

So is it a $39,000 loss ($105,000 - $66,000) plus my depreciated total?
Or a $20,000 gain ($66,000 - $46,000) plus my depreciated total?
And what about the $42,000 pay down for the refinance?

Thank you?

@wrojas0   The mortgage or refinance have nothing to do with the gain or loss.  If it was always a rental property, you use the purchase price (PLUS cost of improvements).

Because depreciation lowers your Basis (cost), your basis looks like it is about $10,500 ($105,000 minus $94,500), not including improvements.  That would give you a gain of $55,500 ($66,000 minus $10,500).  All of that would be Unrecaptured Section 1250 gain, and is taxed at your regular tax rate, up to 25% (plus any State taxes).