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Updated about 13 years ago,
What happens to depreciation when you move back in?
I purchased a home in 2006. It was a rental property from January 2009 through November 2011. I claimed the depreciation in 2009 and 2010, and now we have moved back into the home. Some of that depreciation was not deductible due to my income. I understand the property is now 'retired' from rental use. Here are the questions regarding my 2011 return:
--Do I also include depreciation from 2011? I think so.
--Am I required to list depreciation from 2009-2011 as income this year? I think so.
--Is this 'income' adjusted (down) for the depreciation that was disallowed in prior years? This seems reasonable, but I don't know.
--What forms are used to document all of this?
Thanks for any help or direction you can provide.
-Scott