What happens if rent depreciate ..... - Posted by James

import · October 21, 2003, 10:44pm

Posted by James on October 23, 2003 at 12:19:43:

Thanks David!

import · October 21, 2003, 10:44pm

What happens if rent depreciate … - Posted by James

Posted by James on October 21, 2003 at 22:44:53:

What happens if rent, depreciate the property under the 27 and 1/2 years depreciation for a 3 years, then I move in the property for two years do not depreciate it in my taxes, and after the two years I sell it. Let’s say I have depreciated it for 20K, bought for 250K and 5years later (after I have lived in it for two years out of the 5) I sell it for 500K. Do I pay capital gain taxes on the 20K? And what do I pay on the rest of $250K appreciation? Most likely it is a very easey answer for the experienced investors.

Thanks for your help!

import · October 22, 2003, 9:12am

Re: What happens if rent depreciate … - Posted by David Krulac

Posted by David Krulac on October 22, 2003 at 09:12:09:

the amount that you depreciate needs to be recaptured at the Federal incone tax rate of 25%