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Investors & landlords
thanks This makes sense. I have owned the property for 18 years So when you say 2/3 and 1/3 of basis, this means I am still going back to the original basis (even though I have already taken depreciation) and Turbo tax will recalculate as if it had been two properties all along correct? And regarding your selling comment, my understanding is that when I sell I would pay depreciation recapture on all 3 units from the day I bought the building ( regardless of whether I have taken depreciation of not) Is this also correct? Thanks for your help
‎June 1, 2019
9:53 AM