If I never rent out my second home, when I sell it for a profit, should I add back any depreciation recapture?

How is the capital tax calculated for never rented-out second home? Thanks!

posted

If you never rented out your second home, then you have never deducted depreciation and there's no depreciation to recapture.

The capital gain (loss) is equal to your sale price minus your cost basis (purchase price plus any improvements made to the home) minus your selling costs.

Follow these instructions to enter the sale of your second home in TurboTax.

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Business Car. Took special depreciation on year 1. Went below 50% on year 2 so I recaptured. Now. I want to convert to personal use. How do I show that for coming year?

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If I never rent out my second home, when I sell it for a profit, should I add back any depreciation recapture?