On May 8, 9:13 pm, Pat wrote:

But with your condo, you are doing the same thing. Over 40 years you
are depreciation it. If bought it for $160,000, you claim about $4000
per year. At the end of 40 years it has no book value.

I thoght you just depreciate over 27.5 years the basis, i.e the
purchase price minus the cost of the land. So for a 160k home, the
basis is around 120k.

Ill need to read up on the capital gains tax. I thought if you put the
money into another property you dont owe any taxes. Or if the sale
prices is less than 250k for an individual, then you also dont owe
capital gains tax?