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Get your taxes done using TurboTax
The amount would be that which was allowed or allowable.
In your case, those figures are the same; you were only allowed to deduct the amount not due to the loss limitation and that amount was the amount of depreciation allowable. In other words, there would be no recapture (or reduction in basis) of the amount that was not allowed to be deducted.
March 6, 2024
9:45 AM