gain/loss on sale of rental property

[Account Closed]

In 2007 I bought a condo for $190k.  In 2013 I moved and converted it to a rental as I was too far underwater to sell.  The market value at that time was 70k (basis for depreciation).  I've taken about $8,000 in depreciation.  I am now looking to sell it for about $140k.  Do I have a gain or loss?  

Reading the IRS guidance, the basis for a gain would be original cost less depreciation taken (190-8= $182k, so no gain).  The basis for a loss would be the value at conversion less depreciation (70-8= $62k, so no loss).