- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
When you sell rental property, you *MUST* recapture *all* prior depreciation regardless of how you claimed that depreciation, and pay taxes on it in the year of the sale. Basically, the depreciation taken reduces your cost-basis in the property, thus making more of your gain taxable.
The recaptured depreciation will be taxed at a minimum of 0% and a maximum of 25%. The program will deal with it just fine.
‎December 29, 2019
2:30 PM