Primary Home Sale and Depreciation recapture

[mprabs]

Hello,

I sold my primary home in 2022 that I had lived in for 7 years. I had also claimed home office deductions for a few years.

As part of reporting the sale, I am required to capture the total amount of depreciation I had deducted on this home. Where do I get this information from even if I were to look for it in my past tax returns? Any specific forms or fields to get this information from?

Appreciate any guidance / inputs.

[JamesG1]

A prior year's Depreciation and Amortization Report will provide Prior and/or Current Depreciation totals.  

All depreciation previously claimed will be recaptured upon the sale of the home.

Please note that if you had reported under the Home Office Simplified Method, depreciation would be treated as zero and the basis of your home will not be reduced.  

See IRS FAQ here.

@mprabs 

[mprabs]

Thank you. In this example, is the amount that I need to consider for depreciation recapture (upon selling the home) is $39,139 (prior year depreciation) + $3,273 (current year depreciation)? Is that correct?

[PattiF]

Yes, that is correct. You would use the Prior Depreciation and add the Current Depreciation for the Depreciation Recapture amount.

@mprabs