Get your taxes done using TurboTax

Technically, you were supposed to take depreciation deductions each year on the rental and, typically, you would need to recapture the amount that was allowed or allowable. 

 

You can, however, file Form 3115 (which is somewhat complex) to catch up on the foregone depreciation. 

 

I will page @AmeliesUncle for input on this scenario.