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Get your taxes done using TurboTax
@DMarkM1—please correct me if I am wrong, but do I understand right that the amount of depreciation accumulated does not REALLY affect the total tax to pay at the sale of the rental house? I have passive loss carryforwards (i.e., I am not eligible to deduct those losses, and I keep accumulating them each year until I sell the house), as these passive loss carryforwards will essentially EVEN OUT the depreciation recapture.
March 7, 2024
5:33 PM