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Investors & landlords
@Pinevalleyite If your MFJ income is over $150,000 you can't deduct losses. You may have had years where the loss was not to be deducted. The disallowed losses on those years can be added to the basis when you sell the house. While, depreciation taken will be deducted from the basis.
Depreciation will vary each year due to the purchase of items. You may have done sec 179 and written off some expenses while depreciating others. Depending on what you are depreciating and how long, your depreciation will vary each year. The actual house depreciation is the same every year. Buy a stove, you have a depreciation!
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March 24, 2021
6:03 PM
4,033 Views