- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Form 4797 will show depreciation recapture. Page 2 shows information for Section 1250 property.
Section 1250 property defined. This includes all real property that is subject to an allowance for depreciation and that is not and never has been section 1245 property. It includes a leasehold of land or section 1250 property subject to an allowance for depreciation. A fee simple interest in land is not included because it is not depreciable. If your section 1250 property becomes section 1245 property because you change its use, you can never again treat it as section 1250 property.
For more info: Publication 544 (2020), Sales and Other Dispositions of Assets
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 8, 2022
6:38 PM