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I have Vacation Home Loss Limitations on Depreciation for a rental property. When the property sells, will I need to pay Recapture on the Loss Limitations?
Example: this year's depreciation is calculated as $4,000: $1,000 reported on Schedule E + $3,000 in Vacation Home Loss Limitation. If the property is sold, will the Depreciation Recapture be calculated from the $1,000 of depreciation reported on Schedule E or $4,000 total calculated depreciation...even though I wasn't allowed to take the full $4,000?
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‎June 4, 2019
4:56 PM