Here is my example. I sell a house for 700,000 and I purchase a new one at 680,000 giving me a boot of 20,000. I deducted about 200,000 in depreciation over 24 years.
What might the depreciation recapture amount be on the boot (20,000). I understand I need to pay this tax in addition to the capital gains taxes from the Feds and my state (Oregon).
Thank you!
