![Daniel Kotowski's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3008769/1714391087-avatar-danielk729.jpg?twic=v1/output=image/cover=128x128&v=2)
Basis for depreciation when moving a home I own to rental status
I purchased a home about 5 years ago for $365,000 and today the home is worth $650,000. I'm buying another home and renting out this one. Will my depreciation be based on the purchase price or what it is worth now?