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Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
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fine. thank you
Unfortunately, when you sell property that you have depreciated, if it is sold at a gain you will have to recapture depreciation at a rate of 25%
As you stated, it's a section 1250 gain
What if you generally operated at a loss (including depreciation and interest)? We have carry forward losses of about $80,000
That loss would offset any of your gain, so if you had gain after deducting those losses then that would be recaptured
OK, that's what I thought. Thank you
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