turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

yilliinn
New Member

Tax Year Prior to 2020: rental house depreciation recapture

I sold our two rental house in 2017, and didn't claim the depreciation in the previous years. I know it should recapture when I  sold them, turbo tax asks the amount taken in prior years, do I enter 0? or enter amount I should have taken? thanks.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
iOne
Level 4

Tax Year Prior to 2020: rental house depreciation recapture

You file an amended return for 2017 on form 1040X, pay the tax and penalty, then prepare 2018 taxes as normal.

KarenL
Employee Tax Expert

Tax Year Prior to 2020: rental house depreciation recapture

You would enter the amount you should have taken.  I also suggest you file Form 3115: Application for Change in Accounting Method to try to recoup the past depreciation not taken.  Please read more about it at this link.

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

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies