Investors & landlords

I think the other response is misleading.

I haven't gone through to verify the depreciation figure you provided is accurate.

Based on your facts, you DO have a gain.

Since this is real property, the gain is subject to Section 1250 recapture.

So to answer your question, YES, all your gain is subject to the 1250 recapture based on your facts.

You should see this being calculated on the Schedule D worksheets.

 

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.