Rental/Personal residence sale

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  • taxgirl
    Member
    • Nov 2013
    • 95
    #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
    Tags: None
    • Kram BergGold
      Senior Member
      • Jun 2006
      • 2112
      #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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