Residence into STR depreciation and cost segregation

[Tony Hightower]

If I turn my personal residence I have owner for 9 years into a STR, what value do I use for depreciation of the property?

Can I also do a cost segregation based on that value?

I have several LTRs but not any STRs as of yet. I have a W2 for the next 2 years. I am looking to take the STR depreciation against my W2 wages.

[Yonah Weiss]

@Tony Hightower When changing a personal residence into a rental, depreciation is based on your original purchase price, not on the current market value.

@David M. It's worth doing a little more research about cost seg, and the passive activity rules, especially with regard to STRs. Here's a good place to start.