Question on depreciation on rental to primary residence

[Jason Vaughn]

So my fiance and I bought a duplex as a house hack a few years ago. Last year the tenant we inherited moved out and we completely renovated their unit and got another tenant in it. I am thinking once that tenant moves out, we will possibly move into there unit and completely renovated our unit but wondering how that will affect our taxes. If I understand depreciation correctly the renovation is being depreciated at 1/27.5 a year. If I move in for a year then move out in a year or two does that just put depreciation on hold or does it cancel it completely from then. I would rather renovate a rental and be able to take the depreciation instead of renting my primary residence unless I am missing something.

[Carl Fischer]

@Jason Vaughn

Check with the accountants on BP

@Lance Lvovsky @Ashish Acharya @Michael Plaks @Brandon Hall very good answers from all of them. 

I think you have it right. You can depreciate rental property but not your primary residence. What can be accounted for, property “in service “dates, etc is better coming from the experts. I would look at these CPAs and get at least one on your team. They will help you make smart decisions and avoid mistakes especially with the new tax laws.