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re: Is anyone here an expert on depreciation of rental property after it's sold?
Posted on 2/13/17 at 3:02 pm to OceanMan
Posted on 2/13/17 at 3:02 pm to OceanMan
quote:
Any depreciation taken previously will need to be " recaptured". You will need to treat the amount of depreciation taken as ordinary income. You will also have a long term capital gain for around 24k (sales proceeds-original purchase).
Depreciation recapture on real property is limited to 25 percent. so it's not as bad.
1
Posted on 2/13/17 at 3:09 pm to LSUFanHouston
Thanks for clarifying.
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