- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My primary residence of 2 out of 5 yrs was rented as loss for one year. Then, I sold and made $100k, do I still have to pay recapture taxes?
Topics:
January 13, 2020
3:38 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
You must recapture the depreciation taken or allowed even if the Sch E ran at a loss since you have a gain on the sale.
January 13, 2020
7:48 PM
417 Views
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Rental property almost always operates at a loss "on paper". If sold at a gain, you will pay taxes on recaptured depreciation *no* *matter* *what*. Depreciation is not included in the 2 of 5 tax exclusion exception rule.
January 14, 2020
7:33 AM