Re Investor
“I sold a rental property that I fully depreciated over the last twenty years, how exactly does depreciation recapture work and how much will it cost me?”
When a rental property has been fully depreciated over many years, the tax picture often depends on the original purchase price, accumulated depreciation, and the sale price relative to your adjusted basis. Depreciation recapture is commonly treated differently from the rest of the gain, so the total tax cost can vary based on how much of the sale is tied to prior depreciation and how much is ordinary capital gain. Other factors, such as selling expenses, prior improvements, and whether the property was used strictly as a rental, can also affect the final result. A focused session can map this against your actual situation in plain English.
In your 90-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I successfully refinanced my investment property and pulled out cash to buy another one, is that massive cash out legally considered taxable income?”
“I regularly rent out a spare room in my house on Airbnb, how do I accurately report the income and what specific household expenses can I legally deduct?”
“I bought a duplex and live in one half while renting out the other, how do I properly split the property taxes and depreciation on my tax return?”
“I use cost segregation to accelerate the depreciation on my apartment building, will this aggressive strategy drastically increase my chances of an IRS audit?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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