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Old 02-15-2014, 03:22 AM
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Join Date: Feb 2014
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Unhappy Depreciation Deduction And Recapture

I bought a rental apartment in January 1981 for $28,500.
I sold it in May 2013.
I have no idea the total amount of depreciation that I may have deducted all those years as I don't have copy of my tax returns prior to 2007.
Also, I didn't deduct depreciation every single year.

I've been informed that regardless whether I had claimed depreciation or not, I still have to report a Depreciation Recapture for the "allowable" amount.

If that is the case, how much Depreciation Recapture should I report?
If I am understanding what I am reading the recapture amount would be equal to the amount I paid for the property. Is that possible?

Please help. This is driving me nuts.



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