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Deductions & credits
You can't limit the amount of depreciation, it's based on the things I mentioned before. When you sell, you pay tax on the amount of depreciation you took or COULD HAVE TAKEN and that amount is taxed as ordinary income, not capital gains. However, not taking depreciation you're entitled to does not save you a penny when you sell.
‎June 3, 2019
4:30 PM