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Investors & landlords
thank you, thought I got it but hopes to get it super clear on my understanding:
1. "The amount of depreciation that was allowed will be completely taxable up to the amount of gain received on the sale" --> will this depreciation re-capture portion be taxed as ordinary income or investment gain rate?
2. "The remaining gain if any, will be split between taxable " --> naturally will this portion of "remaining gain if any" be taxed per investment gain rate?
Thanks again for your explanation & detail step-by-step guide.
‎February 24, 2024
9:07 PM