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Updated over 7 years ago,
Depreciation of Primary Residence converted to a Rental
I bought a house in 2009 for 170k as my primary residence. In 2015 I converted that house to a rental. When it was converted to a rental the property was worth ~250k.
For depreciation can I use the 250k value when the property was converted to a rental or do I need to use the 170k purchase price?