USA Depreciation Recapture on Business Real Estate

[SF64]

I have a building that was originally purchased in Dec 1986 and sold in Aug 2012. It was depreciated over 19 years, so it's now fully depreciated.
Does it now have any taxable depreciation recapture, as it was purchased in 1986?
Thanks.

 

[The Finance Writer]

Unfortunately, you have depreciation recapture taxed as ordinary income for commercial real estate placed in service prior to 1987. That is not the case with real estate depreciated under the current straight line term. I believe you'll find the rules for pre-1987 property in IRS Publication 534. An exception exists for residential real estate.