Must you take depreciation when you have home rental?
I have a rental home that I am looking to sell next year so I will need to pay back depreciation recapture. Are you required to take depreciation every year if you already start taking it for multiple year? If not, is it possible to go back and amend 2023 taxes?
Must you take depreciation when you have home rental?
Must you take depreciation when you have home rental?
Yes, and if you don't take the depreciation deduction, you will be faced with recapturing the accumulated depreciation amount you should have taken when you sell the property.
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