depreciation recapture Archives - NYC Tax & Accounting Services

Can a long term capital loss carry forward offset the recapture of accumulated depreciation and capital gains on a property sale?

by George Dimov | Sep 30, 2016 | NYC Accounting

Yes, you can offset the gain on sale of the building against the loss carryover. Hence you will not owe any tax on the gain on sale of the building. Capital gain is calculated as Sales price less adjusted cost basis (which is cost minus the accumulated depreciation)....

Can a long term capital loss carry forward offset the recapture of accumulated depreciation and capital gains on a property sale?

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