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Rental/Personal residence sale

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    #1

    Rental/Personal residence sale

    I have a client that had a rental and stopped renting it in 2007. They sold it in 2016. The condo sat empty this whole time. Do I have to go back and recapture anything or is it a personal property sale? They sold it at a loss unless depreciation comes into play
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    #2
    My View

    You reduce the basis by depreciation claimed. And then it becomes unrecaptured 1250 gain if there is a profit.

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