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Updated almost 14 years ago, 01/27/2011

Bob Taurence's profile image
Bob Taurence's profile image
Bob Taurence
  • Real Estate Investor
  • from Hopewell Jctn, New York
  • Member since Nov 24, 2010
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Bob Taurence's profile image
Bob Taurence's profile image
Bob Taurence
  • Real Estate Investor
  • from Hopewell Jctn, New York
  • Member since Nov 24, 2010
Connect
Bob Taurence
  • Real Estate Investor
  • Hopewell Jctn, NY
1
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2
Posts
Tax, SDIRAs & Cost Segregation

Exempt from Depreciation Recovery

Bob Taurence
  • Real Estate Investor
  • Hopewell Jctn, NY
Posted

I was told by a CPA that my 15 year residential rental property will not be subject to 'recovery' since it was bot 2/08/84. It is fully depreciated. He said entire gain will be taxed at 15% cap gain rate. Is this correct? Having trouble finding it in the IRS pubs. Also, is it still considered Section 1250 property?

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