@coppens1 wrote:
But The $35000 straight line depreciation is already taken into account in the basis of the property. If there is 0 accelerated depreciation, there should be zero recapture. The gain is already taxed.
Yes, but your basis is reduced to the extent of depreciation deductions (straight line) taken and that reduction is taxed at a different rate than long-term capital gain (at your ordinary income tax rate up to a maximum of 25%).
