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jlcperdue
New Member

What amount do I enter in the Depreciation After May 6, 1997 field? I rented out my home for 10 months prior to selling in 2017.

 
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5 Replies
DianeW
Expert Alumni

What amount do I enter in the Depreciation After May 6, 1997 field? I rented out my home for 10 months prior to selling in 2017.

Depreciation after May 6, 1997, would be all the depreciation you used assuming you didn't have any depreciation before 1997.

jlcperdue
New Member

What amount do I enter in the Depreciation After May 6, 1997 field? I rented out my home for 10 months prior to selling in 2017.

On Schedule E for my 2016 return, I reported X amount of General Depreciation and Y amount of Special Depreciation. I'll report an additional Z amount of General Depreciation on Schedule E of my 2017 return. For 2017, do I add together all of these amounts? I'm assuming yes, but want to be sure. Should the Special Depreciation from 2016 be included?
DianeW
Expert Alumni

What amount do I enter in the Depreciation After May 6, 1997 field? I rented out my home for 10 months prior to selling in 2017.

@jlcperdue Yes, you must include the full amount including the special depreciation amount.

What amount do I enter in the Depreciation After May 6, 1997 field? I rented out my home for 10 months prior to selling in 2017.

This answer isn't helpful - you aren't describing what this means by depreciations

Carl
Level 15

What amount do I enter in the Depreciation After May 6, 1997 field? I rented out my home for 10 months prior to selling in 2017.

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%.

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