Now that it is tax season, I have a question for the experts.
I own an auto repair shop, which I have owned and rented out for 16 years. I am thinking about selling it, and my brother tells me that if I do, I have to return to the government all the money I have saved through depreciation write off.
I will probably not replace the property, and if I do it will be with residential rental property. Is my brother correct?