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Updated over 7 years ago,
Selling rental as teardown. Do I have to recapture deprecition
Hi there,
I am selling my rental property as a teardown to a builder. The value is in the land. I was wondering , since it's being bought as a tear down, if I would still have to pay income taxes on the depreciation recapture of the building or if the whole sale price would apply to land only and qualify for a lower capital gains tax instead of paying income tax on what depreciation capture.
Thank you