Rental building never was depreciated and is selling. I will have to recapture depreciation so can I correct the return to show the depreciation not taken sinece I will be recapturing it on the sale?
You need use Form 3115 (code "107") to 'catch up' on the depreciation that was never taken.
0
Cheers
You are leaving Intuit Accountants Community.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.
