Thank you so much for helping me with this. I am okay with a one year deferral.
Every year I rented the property, I had to take required depreciation using the 27 year straight line method. I sold the property this year for a profit, and as you know, the gain is separated between depreciation recapture and long term capital gains.
Some articles only mention that the capital gains portion is eligible, while other articles say that unrecaptured Section 1250 gain, which is the depreciation recapture, is also eligible. This is why I wanted to ask because it is confusing whether deferring the depreciation recapture portion by investing in a qualified opportunity fund is allowed based on the available information.
