The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: inheritance of house - sale||Date: 1/12/2013 8:51 PM|
|Author: vkg||Number: 117351 of 125707|
It's been about 4 years since she died.
So whatever amount the house was depreciated as during the rental period needs to be added back to income to pay taxes on?
Then does this mean claiming depreciation on a rental is pointless in the LONG RUN? That all doing that does is DELAY tax liability?
Depreciation is REQUIRED to be taken. It is still calculated, even if not deducted.
For appreciating assets, yes. Many assets that are depreciated are assets that lose value.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|