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Get your taxes done using TurboTax
You have to figure out your basis and accumulated depreciation. Taxes on sale of the property involve depreciation recapture tax and capital gain tax. Depreciation to be used is the allowed or allowable, which means if you didn't depreciate as you were required to do, you still have to pay depreciation recapture tax anyway as if you did. There are exceptions, and not a whole lot more can be said without further information.
‎January 8, 2019
9:53 AM