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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13332
Experience:  15years with H & R Block. Divisional leader, Instructor
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I sold a vacation home that I rented out years. Some

Customer Question

I sold a vacation home that I rented out for 15 years. Some years it did not rent. I used software to enter depreciation. It calculated total depreciation and allowable depreciation and then used the allowable on schedule E which often resulted in a zero entry for depreciation since expense were more than rental income. I now have to figure depreciation recapture. Do I use the total depreciation figure or the allowed depreciation figure. I assume that there is no depreciation in the years it was not rented.
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.
You use the allowed depreciation. If you sell your asset for more that its depreciated value, the IRS requires you to pay it tax on that gain.