240615
I have claimed depreciation for rental properties for many years. Due to the high depreciation recapture tax rate (25%), can I discontinue/stop claiming depreciation this year? Is any significant tax impact?
You'll need to sign in or create an account to connect with an expert.
You can stop, but you will still have to pay depreciation recapture on all the depreciation you have taken or were required to take. So it will not help you to do so, and you will lose the depreciation benefit. You can't get out of paying the full amount of depreciation recapture on sale.
You can stop, but you will still have to pay depreciation recapture on all the depreciation you have taken or were required to take. So it will not help you to do so, and you will lose the depreciation benefit. You can't get out of paying the full amount of depreciation recapture on sale.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
cggp
New Member
eobryan0608
Level 1
mihir1
New Member
didideanda1814
New Member
brian-h-bell
New Member