Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Depreciation on house hacking:
Hello,
This is my second official post, my other was my introduction. You could call me a seasoned member. Anyway, my question relates to house hacking a duplex, well actually any type of property actually. I have been reading the rules the I.R.S. laid out for depreciating rental real estate, but then a question popped up in my mind that I could not find the answer to.
If you're house hacking say a duplex, living in one side and renting out the other, you can only depreciate the side your conducting business on and if you have an office on your side that as well. But, what happens when you move out of your side and start renting both, do you depreciate at a year one basis on the new rental and continue the depreciation on the original side at whatever year your at. Say 5 years of depreciation for the original side, and one year for the new rental?
Hopefully this makes sense, and I will revisit this post later tonight to double check.
Thanks for your time,
Christopher J. Weinstein