recapture depreciation in a 1031 exchange with cash boot

[joelserrano]

did a 1031 like kind exchange with a cash boot of 20k........turbo tax is asking for the depreciation amount of $26147.   Isnt recaptured depreciation also tax deferred in a 1031 exchange?

thanks

joel

[M-MTax]

Boot is subject to capital gains tax and also on a pro rata amount of recaptured depreciation.

[joelserrano]

ty for reply.....my income falls below 80k treshhold even with 20k added to it. How do you pro rate the recaptured depreciation?

ty

[Mike9241]

first depreciation is recaptured to the extent of the boot. if boot exceeds depreciation recapture, that's taxed as capital gain

look at form 8824