Good to know. I initially made an error and did not depreciate the first few years of renting, but it got me thinking. The property already has enough deductions aside from depreciation to offset any income and then some, so it seems depreciation would not provide a benefit in my case and lead to additional taxes when the property is eventually sold due to having to "recapture". So that brought me to my question - Is it allowed to not depreciate or depreciate only as needed to avoid recapture later?
