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I had a rental property which I quit renting in 2005, I used it as my vacation home and sold it in 2017. Do I have to pay taxes based on the depreciation ...

Yes.

Your basis in the property has been reduced by the depreciation allowed or allowable during the time it was rented.

Any gain due to the depreciation taken is taxed similar to a short-term capital gain (so at ordinary income tax rates, not the lower rate for long-term capital gains), but is subject to a maximum tax rate of 25%. Note that this rate is a maximum. If your taxable income - including this gain - does not put you into the 25% (or higher) bracket, your tax rate on the gain due to depreciation will be lower.

--Peter
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