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Updated almost 7 years ago,
Question on depreciation on rental to primary residence
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.