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Get your taxes done using TurboTax
If you were not allowed to deduct it then you would not have to recapture it.
HOWEVER, your passive loss carryforward is deductible in the year that you sold the property. If that passive loss carryforward, which you get to deduct this year, includes all of that depreciation then you WERE allowed to deduct it. You just had to wait. And you will have to recapture it.
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March 6, 2024
10:56 AM