Depreciation of Personal Property after rental use I lived in my home for 24 months, then I had to move (in 2010) for work and rented it out to tenants. I am about to move back into the property soon as my full time, permenant residence. I took about $7500 in depreciation over the little less than 2 year rental time. Will I need to pay back the tax liability of the depreciation even if I am still living in the house, or will I owe that amount whenever I sell the house later down the road? Any info would be greatly appreciated. |