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2. Selling a rental property? Here are the tax consequences - AOL

   www.aol.com/news/selling-rental-property-tax...

   You’re not eligible for the $250,000-per-person home sale profit exclusion, and in addition to paying capital gains tax you also face a depreciation recapture tax of 25%.

3. How Do I Calculate Depreciation For Taxes? - AOL

   www.aol.com/calculate-depreciation-taxes...

   The Internal Revenue Service specifies how certain assets will be depreciated for tax purposes. ... while residential rental real estate has a 27.5-year life. Taxpayers use Form 4562 to report ...

4. Are Home Improvements Tax Deductible? - AOL

   www.aol.com/finance/home-improvements-tax...

   Selling your home for significantly more than you paid for it can leave you with a big tax bill on your capital gains. The IRS allows most sellers to exclude the first $250,000 of their profit ...

5. Depreciation recapture - Wikipedia

   en.wikipedia.org/wiki/Depreciation_recapture

   Depreciation recapture most commonly applies when dealing with the sale of improved real estate (such as rental property), as the value of real estate generally increases over time while the improvements are subject to depreciation. Depreciation recapture in the USA is governed by sections 1245 and 1250 of the Internal Revenue Code (IRC). Any ...

6. Section 179 depreciation deduction - Wikipedia

   en.wikipedia.org/wiki/Section_179_depreciation...

   Depreciable property that is not eligible for a section 179 deduction is still deductible over a number of years through MACRS depreciation according to sections 167 and 168. The 179 election is optional, and the eligible property may be depreciated according to sections 167 and 168 if preferable for tax reasons. [ 3 ]

7. Applicable convention - Wikipedia

   en.wikipedia.org/wiki/Applicable_convention

   If more than 40% of the total basis of property is placed in service during the last three months of the tax year, the mid-quarter convention applies. Exemptions include: Property that is being depreciated under a method other than MACRS. Any residential rental property, nonresidential real property, or railroad gradings and tunnel bores.