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Updated over 5 years ago on . Most recent reply
Depreciation on single family home.
I currently have a single family home that I live in that will be a rental in a few months. My question is if I have to do anything special to be able to depreciate it? Once it is listed for rent does that make it an investment property even though it won’t have an investment property loan?
Thanks for any help.
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#2 Tax, SDIRAs & Cost Segregation Contributor
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Originally posted by @Adam Solomon:
I currently have a single family home that I live in that will be a rental in a few months. My question is if I have to do anything special to be able to depreciate it? Once it is listed for rent does that make it an investment property even though it won’t have an investment property loan?
Thanks for any help.
It’s not a loan requirement. Once the asset is changed to business asset, it is depreciated when it is placed in service.
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