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Investors & landlords
There is depreciation recapture. As you took the deduction for depreciation it reduced your cost basis.
The real sticker is that you have to take a recapture of all of the depreciation whether you originally took it or not.
If you did not take it you will be able to amend your returns going back 3 years. You can still do 2017 up until April 15th 2020.
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March 7, 2021
12:30 PM