turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

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.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies