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Deductions & credits
Got it. I received 100% of the money so I will report it.
With regards to depreciation recapture:
I rented a room in the house in 2018 (part of year, lets say 6 months) and 2019 (full year). In 2020, I stopped renting the extra room and that room became personal use. I claimed depreciation when looking at my prior returns as:
2018 - $5000
2019 - $10,000
Would depreciation recapture simply be $15,000?
March 11, 2022
8:53 AM