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Updated about 8 years ago,

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Andrey Y.
  • Specialist
  • Honolulu, HI
1,261
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1,887
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Initial vs. Refi as the source for depreciation deduction

Andrey Y.
  • Specialist
  • Honolulu, HI
Posted

Quick question for you folks. Say a property was purchased in 2011 as a primary residence, was placed in service as a rental in 2016, but was also refinanced in early 2016. How would you go about calculating your cost basis for depreciation? I know the easy answer is "ask a CPA" but I am prepping my own taxes and will decide if I want to use a CPA to file later. Thanks for reading!

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