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Updated over 4 years ago, 05/25/2020

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4
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Swati Patel
0
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4
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Can I take partial depreciation?

Swati Patel
Posted

Hi all! I had a question when I started doing taxes for my rental property for the year 2019. The unit was rented for the entire year. So here's the scenario.

Total income from rental = $10,000

Expense (including repairs, mortgage interest, taxes but not including depreciation) = $6000

Depreciation for 2019 is about $7000. But if I take the entire depreciation, my total expenses comes up to $6k + $7k = $13k which is $3k beyond my income. 

So here are my questions.

1. If I take entire depreciation of $7k, and have $3k in losses, can I carry over this loss into next years taxes for the rental?

2. Or can I take partial depreciation of $4k just enough to offset the income?

Your expertise in this matter will be appreciated.

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