ptax255
Level 7
01-14-2022
01:06 PM
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Hi, client has been a US resident (on a visa) and been taxed as such. During this time he had rental property in the UK which he depreciated in the US tax returns. If he were to go back to the UK and then sell the property, would depreciation recapture still apply?
sjrcpa
Level 15
01-14-2022
01:08 PM
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If he still has to file a US tax return, yes the unrecaptured 1250 gain rules would apply.
The more I know the more I don’t know.