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Investors & landlords
1) Is my overall understanding above correct, or am I missing something?
Yes.
2) Can I use the foreign tax credits carried forward to offset the depreciation recapture tax (or the capital gain tax)?
Yes, in the tax year you sell the property, assuming you do so in the 10 year window.
3) Moot point, and really no need to answer #3.
‎January 21, 2024
8:55 AM