Hi all,
I am selling my investment property which I've owned for 17 years. Over the 17 years I've claimed 123k in depreciation. Since I've been on a higher income I have benefited by 33% of 123k which is approximately 40.6k.
My question is when I sell will I need to pay the entire 40.6k back?
Thanks
Henry
I am selling my investment property which I've owned for 17 years. Over the 17 years I've claimed 123k in depreciation. Since I've been on a higher income I have benefited by 33% of 123k which is approximately 40.6k.
My question is when I sell will I need to pay the entire 40.6k back?
Thanks
Henry
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