Rental property was held by LLC . Now sold with some profit. How does capital gain change for LLC. Also never depreciated throughout ownership of rental property. Does depreciation recapture still apply

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LLC is a legal entity not a tax entity. An LLC depending on how you set it up can be taxed like a sole proprietor (Sch C), partnership (1065), S Corp (1120S), or a C Corp (1120). If you did not depreciate you would not have any depreciation to recapture

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Just so we’re clear, I am not recommending you pay recapture on depreciation you never took as the odds of audit are too low for all the headache. Just giving the technical answer and showing OP there is some risk involved.

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Also, I had losses all 5 years and reported the same on annual LLC taxes . Will I be able to recapture those

Thanks, D1. Absolutely will

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