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Deductions & credits
No, once you sold the property you cannot take special depreciation allowance and you would not want to take the special depreciation allowance. When you have rental property any depreciation reduces the basis of the property which increases the capital gain. When sold, the depreciate is added back (recoup) to bring the costs basis back to the original cost basis. The recoup portion is taxed as ordinary tax rates. The amount of profit above the original cost basis and the profit would be considered capital gains and taxed at capital gains rate. Capital Gains is determined by the difference between the sale price and your basis in the property (which is essentially the purchase price plus improvements less depreciation already claimed).