Another thing you should be aware of: The capital gain (profit) on the sale of your principal residence is tax free (up to $250,000 [$500,000 married]) if you lived in it at least 2 of the 5 years prior to the sale. That essentially means you must sell the house by July 1, 2017, if you want to take advantage of this rule. You will still have to pay tax (at ordinary tax rates, not capital gains rate) on the depreciation recapture, but not the rest of the gain
