I sold a house -- it was a house I lived in for 13 years and rented out for the last 6. Do I report as business property -- even though I did not take any depreciation?

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I sold a house -- it was a house I lived in for 13 years and rented out for the last 6. Do I report as business property -- even though I did not take any depreciation?

It is reported as a rental property sale.

However, you are required to take depreciation. You will pay tax on the gain due to the depreciation that you COULD have taken, even if you did not actually take it.

Go to a good tax professional to help you "catch up" on the depreciation.

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I sold a house -- it was a house I lived in for 13 years and rented out for the last 6. Do I report as business property -- even though I did not take any depreciation?

I sold a house -- it was a house I lived in for 13 years and rented out for the last 6. Do I report as business property -- even though I did not take any depreciation?

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I sold a house -- it was a house I lived in for 13 years and rented out for the last 6. Do I report as business property -- even though I did not take any depreciation?

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I sold a house -- it was a house I lived in for 13 years and rented out for the last 6. Do I report as business property -- even though I did not take any depreciation?

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