You'll need to sign in or create an account to connect with an expert.
Depreciation after May 6, 1997, would be all the depreciation you used assuming you didn't have any depreciation before 1997.
This answer isn't helpful - you aren't describing what this means by depreciations
YOu enter the amount of all depreciation taken. Period. That's the total of all Special Depreciation Allowance, and the standard deprecation. All of it. The total amount taken for the entire time you owned the property.
When you sell rental property, you are required to recapture all depreciation taken on the property and pay taxes on that recaptured depreciation in the year you sell the property. The total amount of depreciation taken is added to your sales price on the property. That added depreciation will be taxed anywhere from 0% to a maximum of 25%.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Bilshaw1
Level 2
sun7071
Returning Member
oldKnhand
New Member
Curious_George_123
New Member
home_owner
Returning Member