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Updated over 4 years ago,
Accumulated depreciation question...Taxslayer
I just finished my taxes using Taxslayer, as I have done for a decade. I just noticed a column on a worksheet entitled “ statement of depreciation” for “accum deprec” and I expected the number to be the number of years owned x the unchanging depreciation amount used every year (cost basis of building /27.5). But it is not. So I guess my question is how does one calculate the depreciation for recapture when selling? Just curious because we go over the numbers when trying to decide whether to sell or not and the tax ramifications have always seemed to dissuade us from cashing out. Thanks.