Yes, you will pay capital gain and recapture depreciation...

Do we pay taxes on selling a second home, that was rented out, if we have not lived there for 4 yrs?

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Yes, you will pay capital gain and recapture depreciation since it had been used as a rental. You will not satisfy the requirement of living in the residence 2 of the last 5 years in order to use the capital gain exclusion of the sale primary residence.

Business Car. Took special depreciation on year 1. Went below 50% on year 2 so I recaptured. Now. I want to convert to personal use. How do I show that for coming year?

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Do we pay taxes on selling a second home, that was rented out, if we have not lived there for 4 yrs?

Do we pay taxes on selling a second home, that was rented out, if we have not lived there for 4 yrs?

Do we pay taxes on selling a second home, that was rented out, if we have not lived there for 4 yrs?

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Do we pay taxes on selling a second home, that was rented out, if we have not lived there for 4 yrs?

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Do we pay taxes on selling a second home, that was rented out, if we have not lived there for 4 yrs?

Do we pay taxes on selling a second home, that was rented out, if we have not lived there for 4 yrs?

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