Accelerated depreciation on primary residence turned STR?
We are planning to turn our primary residence into an STR at the end of this year and are looking to take advantage of accelerated depreciation if we can meet the REPS requirements. To my knowledge I believe this is possible with a property purchased as an investment property, but would it apply to a primary residence turned investment property?
We absolutely plan on meeting with a tax professional to plan this out, but I’m curious if this is even possible before we push to that next step. Any feedback is appreciated, thanks!