TaxGuyBill
Level 15
08-13-2024
09:14 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
@jblynch wrote:
would then also become a recapture on the sale
There will be gain due to the depreciation whether you claim it or not. Depreciation that is "allowed or allowable" reduces Basis, so even if you don't claim the depreciation, it will be taxed. File 3115 or you are wasting a deduction because it will be taxed whether it is claimed or not.