Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago,
Depreciation on reconversion to rental
My property was a primary residence for 2 years, then a rental dwelling for 23 years, and for the last 4 years has again been my primary residence. I'm considering moving overseas in the next couple of years and renting it out.
Questions:
1) will the depreciation continue as before for the remainder of the 27.5 year term? (I.e., 4.5 years).
2) we've done a lot of remodeling, some of which has been non-trivial (e.g., a new bathroom). Can those expenses be added to the basis and depreciated?
3) If yes to #2, is the depreciation separate and if so, for how many years?
Thanks.
--Erik