Depreciation recapture

leemummau · ‎April 4, 2022

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

DaveF1006 · ‎April 4, 2022

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

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leemummau · ‎April 4, 2022

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

Vanessa A · ‎April 4, 2022

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

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Depreciation recapture