All Forum Posts by: John Rossi

I'm looking to sell them individually because we couldn't sell them as a package.  I think this would be a cash out sale because there is no way to carry over the depreciation.  Would I have to go back give each building a purchase value and part of the depreciation based upon the package and then pay the taxes on that one or would I have to pay capital gains on all of the depreciation I've accumulated for all three?  Just not sure of my tax consequences.

I purchased 3 office buildings as a package back in 2006.  I'm selling them individually and have the first contract.  Can anyone tell me generally about the tax consequences.  I will be taking my taxes to a tax accountant next year so I'm not looking for direct tax advice.