taxes96786
Level 9
03-29-2022
10:47 PM
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Depreciation is not a decrease the basis at sale. The depreciation that was allowed has to be reported, on the sale, as the amount of depreciation taken, whether or not you actually took it. You may have to make adjustments to arrive at the correct figures for the sale.
When you sell the property, you'll owe depreciation recapture tax.