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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 4:50 pm to Rust Cohle
Posted on 2/13/17 at 4:50 pm to Rust Cohle
It was my pimary residence for 9 years and a rental property for about 8 years. So I think only approx 27k is taxed at 25%. At least I hope so lol
Posted on 2/13/17 at 5:11 pm to SnukaD
I think you are on the right track
Posted on 2/13/17 at 7:21 pm to SnukaD
Still have to pay taxes on the gain, unless you've occupied as primary residence for 2 out of the last 5 years. I decided this year to use a pro from now on because we are planning to sell the one rental house we have now, but want to do more in the future. We didnt take enough depreciation over the past 3 years....did it myself through turbotax. Fortunately, we're not far off, but we are probably going to have to go through the hassle of amending
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