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Updated almost 3 years ago on . Most recent reply
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Retroactive Depreciation question
I have been renting out 60 percent of my house for the last 5 years. I used 60 percent for all depreciation regarding taxes. I moved to a new state and I now rent out 100 percent of my house. I'm wondering how to calculate depreciation? Especially retroactively. Would the improvements I've made 5 years ago that I had been claiming 60 percent depreciation, now have those numbers changed? For instance I purchased a furnace and central ac unit for 6k 2 years ago and I depreciated it over 27.5 years. But that was using 60 percent, would I now changed that 6k number over 27.5 years at 100 percent? How about the former landscaping numbers at 60 percent? Would those now be 100 percent? I started renting out the entire house in November of 2021. Thanks