I'm confused with Allowed versus Allowable in relation to my depreciation recapture. Here are the details (round figures used for ease)
Rental placed in Service 9/20/2021. Basis for depreciation 171,000.
2021 depreciation calculated at $1500
However, because of my personal use days the actual amount of depreciation taken on my Schedule E was $450 (expenses limited to income).
I sold the rental in 2022.
Is my prior depreciation $1500 or $450?
On a related note the excess expenses I wasn't able to take on my 2021 taxes because of the rental income limitation should carryover to 2022, correct?
