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Do I need to recapture home office depreciation taken prior to May 6, 1997? If so, what is the significance of this date?

Forum|Forum|5 years ago
March 27, 2021
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Best answer by AmeliesUncle

That is the date the law changed so that you can use the $250,000/$500,000 exclusion on the sale of your Principal Residence.

Depreciation before that date is eligible to be covered by the $250,000/$500,000 exclusion. Depreciation after that date is not eligible to be covered by that provision.

D

decogeekAuthor

@Carl11_2 @AmeliesUncle

Carl11_2

Employee

I can't answer this with any degree of certainty. I also think that there's something about depreciation recapture on property placed in service before 1987 also. But don't know any of the particulars on that. A preliminary search of Pub 523 and 527 doesn't cause anything to "jump out" at me either.