Depreciation on rental property

[mistermoney1968]

My wife and I are retired.  We have been renting a house for 27 years.  The house is in our revocable trust to go to our daughter.  She is moving into it next month.

So we are not selling the house.  We had roughly $100.000 in depreciation used.  I read that we won't have to report the depreciation.  If so, do I have to the IRS know somehow and willTurbo run me thruit

I have been using Turbo for 12 years and like it alot

[Anonymous_ · Accepted solution]

---

@mistermoney1968 wrote:

I read that we won't have to report the depreciation....

---

You will not have to report it in this instance (nor will you have to inform the IRS) until you sell the house to a third party in a taxable transaction.