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Shenhoo
Joined:
01/04/2001
Posts:
35243
Likes:
51430
What's this?
It's been a while, but I believe the depreciation recapture at
ordinary tax rates still apply even with the capital gain exclusions for residence occupancy.
Sorry.
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81_Hokie
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Posted: 06/08/2023 at 1:13PM
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Current Thread:
Rental property tax geniuses...
--
81_Hokie
06/08/2023 1:08PM
You have to recapture depreciation. **
--
Hokieesith
06/08/2023 1:45PM
Assumed so but read something that seemed otherwise. Thanks **
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81_Hokie
06/08/2023 2:02PM
Here is a link to an article that you may find of interest
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nokeneck
06/08/2023 1:36PM
What happens if you sell it as a rental property?
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Zhoo
06/08/2023 1:58PM
Another link re Rental conversion to primary residence. You are
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nokeneck
06/08/2023 2:08PM
It's been a while, but I believe the depreciation recapture at
--
Shenhoo
06/08/2023 1:13PM
Seems like it would have to be that way but I read something the other day
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81_Hokie
06/08/2023 1:49PM
I think that’s right. Trying to figure out what to do with mine.
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BocaHoo91
06/08/2023 1:34PM
Is your rental in an LLC? **
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Zhoo
06/08/2023 1:54PM
No **
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BocaHoo91
06/08/2023 2:04PM
Why not?
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Zhoo
06/08/2023 2:07PM
Probably laziness more than anything. I don’t
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BocaHoo91
06/08/2023 2:20PM
You don't need to have one. Usually the reason for an
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Hokieesith
06/08/2023 2:19PM
I was under the impression you can do alot more with "business write offs"
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Zhoo
06/08/2023 4:17PM
You can write off anything business related with or without an LLC.
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BocaHoo91
06/08/2023 5:13PM
But dont you pay less taxes in an LLC than not in one?
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Zhoo
06/08/2023 10:35PM
Correct. It doesn’t make a difference for write offs.
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Hokieesith
06/08/2023 8:01PM
Not really. LLC's are filed from a tax standpoint as a
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Shenhoo
06/08/2023 4:24PM
Thanks for confirming my exact thoughts on why I haven't bothered
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BocaHoo91
06/08/2023 3:52PM
Yeah. I will unload some rental property at some point
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Shenhoo
06/08/2023 1:46PM
I definitely can’t do it this year. All my unvested stock
--
BocaHoo91
06/08/2023 2:14PM
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