Is there Income tax on sale proceeds from a Multifamily Property?

[Scott Sewell]

Need some help Guys!

We've asked two Accountants and gotten two different answers to the question above. So let me define this hypothetical a little further:

On a multifamily sale (strictly investment property), after paying Uncle Sam depreciation recapture, and capital gains taxes, do the balance of the proceeds become income (and added to our 1040), and thus taxable at our personal rate?

Thx in advance,

Scott