bandb
Level 3
04-25-2025
04:23 PM
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in selling a rental, 27.5 sl, depreciation, when would you have recapture or unrecapture gain ?
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George4Tacks
Level 15
04-25-2025
04:39 PM
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Personal residence? https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/property-basis-sale-of-home-etc/prope...
Answers are easy. Questions are hard!
sjrcpa
Level 15
04-25-2025
05:20 PM
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No recapture, but unrecaptured 1250 gain.
The more I know the more I don’t know.
bandb
Level 3
04-25-2025
06:04 PM
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I am unsure about depreciation! At sale, is the entire building depreciation at 27.5 sl unrecaptured at 25%
George4Tacks
Level 15
04-25-2025
06:36 PM
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Building should show on 4797 page 2, Part III lines 20-24. Line 26 should be blank = zero.
If entering through Depreciation - Sale of asset should be in Form 4797 Sales price - Miscellaneous Form 4797 part I, 1 for Complete disposition and 1 for 1250 about 2 entries lower.
Answers are easy. Questions are hard!
