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Updated over 12 years ago,

User Stats

199
Posts
16
Votes
Guevara M.
  • Homeowner
  • Corpus Christi, TX
16
Votes |
199
Posts

Should I be taking a depreciation on my rental?

Guevara M.
  • Homeowner
  • Corpus Christi, TX
Posted

I bought a rental (Town Home) back in 2004 & have been taking a depreciation so that I could get a bigger tax return. The CPA that did my taxes this year advised me that I shouldn't be taking a depreciation if I plan on selling (which I do in a couple of years) cuz I will have to pay capital gains on that amount. My goal is to make as much money off it when I sell it so should I stop taking a depreciation? Any advice would be great cuz I don't know much about investing.

Thanks,
-Mike

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