I sold my house in April, 2024 and had used the office in the home deduction for 18 years. I reinvested in a co-op which cost much less than my home sold. I have read on some tax blogs that depreciation recapture can be avoided and used as part of the sale of home $250,000 exclusion. The software is recapturing the depreciation taken for 18 years including a full year's depreciation for 2024.
Your thoughts are appreciated.
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"The software is recapturing the depreciation taken"
Which software is this?
You posted in a section for making recommendations to Intuit for when you used their Tax Advisor (a Planner tool).
Maybe you're lost on the internet.
Unfortunately, reading some tax blogs can be as reliable as asking the neighborhood barber for tax advice. If you are selling for a gain, the recapture rules are going to kick in.
"The software is recapturing the depreciation taken"
Which software is this?
You posted in a section for making recommendations to Intuit for when you used their Tax Advisor (a Planner tool).
Maybe you're lost on the internet.
Sorry about that.
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