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Get your taxes done using TurboTax
"I thought I read if they were fully depreciated they are not recaptured at time of sale." if that were true and you held residential real estate over 28 years, it would be fully depreciated, then you would be arguing there would be no recapture on the building itself which is obviously false. the question is do those improvements still exist and if they do what their fair market value is. hiring an appraiser would be money well spent.
‎September 10, 2023
4:26 PM