I sold a piece of rental property. When calculating the depreciation recapture for the property will I add the "Special Depreciation Allowance" to the prior and Current depreciation?
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Yes. Use all three of those (and any Section 179) to calculate the total depreciation.
Just to double check, when you say "rental property", so you mean a building that you rent out? If so, are you referring to appliances or something? For the most part, the building itself does not qualify for the Special Depreciation Allowance.
Yes. Use all three of those (and any Section 179) to calculate the total depreciation.
Just to double check, when you say "rental property", so you mean a building that you rent out? If so, are you referring to appliances or something? For the most part, the building itself does not qualify for the Special Depreciation Allowance.
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