What is depreciation recapture? #shorts

About Karlton Dennis

Karlton Dennis is the Founder and CEO of Tax Alchemy, a firm specializing in sophisticated tax planning. Tax Alchemy is one of the fastest-growing tax firms in the U.S. Karlton and the Tax Alchemy Advisors have created powerful tax plans for thousands of clients in the United States. Many of Karlton’s clients have achieved life-changing tax savings through the strategies that he and his firm design and help implement. In fact, Karlton routinely helps his clients save 6 or 7 figures in taxes.

In addition to leading Tax Alchemy, Karlton is also the creator of the Karlton Dennis YouTube channel. This channel is one of the most successful and popular channels in the tax niche. Karlton uses his YouTube channel as a vehicle to share his wealth of tax knowledge with millions of people.

Licensed EA (Highest Tax Credential Awarded by the IRS)
Forbes Business Development Council Member
Bigger Pockets Partnered Tax Advisor
Author of The Short-Term Rental Rule: How to Reduce Taxes Like the 1 Percent
Founder and CEO of Tax Alchemy

#KarltonDennis

[stevenbingham]

There's always a catch!
Thanks for looking out Karlton, much appreciated
.

[mits_]

The IRS - There's no such thing as a free lunch. THE IRS = THEIRS

[miltonperez]

WOW 😮!!! Didn’t know that… Thanks for sharing knowledge!!!

[felixinit]

Excelente explicación de "Depreciation Deduction". Depreciation Recapture.

[geoffbrown]

Not always! Ever heard of a 1031 exchange? Look it up.

[whereisyourpurpose]

Could you be able to move it out as a 1031?

[philipclock]

Repeal the Income Tax amendment, abolish taxing income. Replace with sales tax.

Pay tax bill when you spend. No more IRS as your partner with a claim on your income.

[davidarredundo]

What if you use that money to buy a different investment property? Do they still request that tax from the first property?

[VinylRundown]

So… borrow against it instead of selling?

[sydolayta]

Hi is it also applicable for car used for business too! Thanks

[hoganathan]

I would love to do a course on tax, real estate and insurance. Help me please.

[jeffconley]

So now I’m in this position. I’ve had this house as a rental for 35 years. I’m retired and my wife wants me to sell it so we can move to a warmer climate since I retired last year. Am I just SOL and going to be taxed to death. And also the house got hit by a tornado 3 years ago and the whole area lost about 25 percent in value. What to do !!!!

[bobsides]

What about selling the asset into a “SoindThrift” type trust sir? As long as the price paid is the purchase price, minus depreciation, plus improvements there is no taxable event.

All the best wishes young sir.

[Rich-Evolving]

Could a 1031 exchange void depreciation recapture

[_Pure.truth_]

So is it better not to take depreciation?

[brendanbroo]

What if you were doing so well that you were able to donate the property to a charity? Would they relieve you of having to pay that back to the IRS?

[bros]

@karlton is it still true if your property is under a Land trust?

[Palikero]

You can avoid that using 1031 correct?

[kojack]

So what happens if the property that you’re selling did not depreciate

[Fake.duramax]

Pay the whole thing back or just a percentage?!?!