I'm renting a home via AirBnB/VRBO as business. If we make this property our primary residence in future will we have to pay special depreciation on improvements back?

Forum|Forum|4 years ago
April 18, 2022
1 reply
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Improvements are reworking road and building a garage.

TurboTax Self Employed Online

Best answer by Vanessa A

Yes, when you sell the home, you will need to recapture the depreciation you have taken on the home.

Vanessa AAnswer

Yes, when you sell the home, you will need to recapture the depreciation you have taken on the home.

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truckmasseyAuthor

Thank you Vanessa. I understand I will need to recapture when I sell the home. However, my question is will I have to do that upon converting it from business property to personal property for our primary residence.

ColeenD3

Yes, you would have to recapture the special depreciation. You may end up being able to exclude the personal portion of the primary home, but you can't exclude the depreciation part.