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leemummau
Level 2
Apr 4, 2022 7:20 PM UTC
Question

Depreciation recapture

I am selling a Mobile home park. I had installed a new in-ground sewage system in 1998. The cost was $12,719 and the depreciation taken before this year is $11,448.  Do I have to recapture the depreciation on this. Thanks, Lee

    3 replies

    DaveF1006
    DaveF1006
    Alumni - Intuit
    Apr 4, 2022 7:39 PM UTC

    Yes, this depreciation will need to be recaptured on your tax return.

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      leemummauAuthor
      Level 2
      Apr 4, 2022 7:46 PM UTC

      Then it would be the same for repaving the street? Lee

      Vanessa A
      Alumni - Intuit
      Apr 4, 2022 7:54 PM UTC

      Yes, any depreciation take on property you are selling will need to be recaptured. 

      **Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
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