Vacation home (never qualified as a rental property due to too many personal days) with some depreciation claimed will be sold in 2012. It will sell for less than cost even adjusting basis for depreciation claimed. As there is no gain I am thinking the depreciaion is not subject to 1250 unrecatured gain. Is this correct?
Announcement
Collapse
No announcement yet.
unrecaptured 1250 gain
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.