Newsflash: Sold Rental Property – Depreciation Recapture Question (X-Post)

So I bought a condo in 2009 (great time I know) and my wife and I lived in it for two years when I got a good job offer across the country. Because the housing bubble collapsed we decided to rent it out starting in 2011.Well over the years we have been renting out he condo at a loss, between 100-300 a month. The appreciation finally came back and we just sold it.I paid 177,000 for it, we sold it for 175,000. My question is, what is the depreciation recapture?If I have depreciation approx $5,300 since 2011, I have depreciated approximately $31,800.If I subtract that from the original purchase price of 177,000 – 31,800 = 145,200.If I subtract that from the sale price of 175,000 – 145,200 = 30,070.Is this roughly correct? Is the 30,070 what I will need to pay in depreciation recapture at 25%, equaling about $7,517.50?Is there any way to lessen this? Does me operating at a loss the past 6 years do anything to reduce the 7,517?We also had broker commission paid of 10,500 — does that have any impact?Any help or knowledge would be appreciated!



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