If a a depreciated rental dwelling has been demolished, does the depreciation have to be recaptured on the sale of the vacant lot?
Yes, because it is the same property that you received the tax benefits of the depreciation on your previous tax returns.
Jennifer H Stokes, Licensed CPA
www.TaxDeductionsByOccupation.com
http://TaxDeductionsByOccupation.blog.com
www.1040.com/StokesTaxService
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