I'm wanting to show some of my depreciation as income so it's not a huge hit when I sell my property. Where can I input that?

I would also love for my property to stop being depreciated if anyone can guide me in that process as well.

posted

There really is no way to do this- the IRS requires you to account for the depreciation when you stop using business property whether you claimed the depreciation or not.

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I have a short term rental property that suffered a loss in 2024 and my K-1 shows an additional loss from depreciation. The loss on my K-1 for depreciation does not transfer to my personal return in the full amount. Is there a limit on this deduction ?

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I'm wanting to show some of my depreciation as income so it's not a huge hit when I sell my property. Where can I input that?

I'm wanting to show some of my depreciation as income so it's not a huge hit when I sell my property. Where can I input that?

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I'm wanting to show some of my depreciation as income so it's not a huge hit when I sell my property. Where can I input that?

Do you have an Intuit account?

I'm wanting to show some of my depreciation as income so it's not a huge hit when I sell my property. Where can I input that?

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