MinhT1
Expert Alumni

Investors & landlords

You should have claimed depreciation on your rental property since putting it on the rental market. If you did not, when you sell your rental home, the IRS requires that you recapture all allowable depreciation to be taxed (i.e. including the depreciation you did not deduct).

 

So, if you did not depreciate in past years, you can still amend the last 3 years' tax returns (2018, 2017 and 2016) to claim that depreciation.

 

To amend your past returns, please read the instructions in this TurboTax Help article.

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