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Investors & landlords
Yes As you said, the deferred gain reduces the basis of the new property, and that gain is in part determined by the accumulated depreciation. The accumulated depreciation must be carried over to the new property. If the new property is then sold (not exchanged) that depreciation will be subject to depreciation recapture (to the extent their is a gain on the sale).
‎June 5, 2019
11:12 PM