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Pat M
Level 2
May 26, 2020
Question

Recapture of Depreciation when taxpayer converts rental property to primary residence.

  • May 26, 2020
  • 7 replies
  • 33 views

Recapture of Depreciation when taxpayer converts rental property to primary residence.

This topic has been closed for replies.

7 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
May 26, 2020
that would occur at the time the property is sold....so printout the depreciation schedule and keep in the file for when that happens.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    TaxGuyBill
    May 26, 2020

    Is there a question there?  This isn't Google.  You need to provide as many specific details as possible.

     

      BobKamman
      BobKamman
      Level 15
      May 26, 2020

      @TaxGuyBill 

      You obviously lead a sheltered life and have never heard of Alex Trebek.

        abctax55
        abctax55
        Level 15
        May 27, 2020

        Answer IS.... no recapture on conversion.

        Was this a daily double?

        HumanKind... Be Both
          BobKamman
          BobKamman
          Level 15
          May 27, 2020

          @abctax55Answer IS.... no recapture on conversion.

          You lose.  Didn't state it in the form of a question.  

          abctax55
          abctax55
          Level 15
          May 27, 2020

          Crap... I know better.  Guess Ken Jennings is safe as the GOAT.

          HumanKind... Be Both
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