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Updated over 10 years ago,
Placed in Service Date
Trying to figure start date for IRS depreciation.
Purchased late July 2014 but work needed before renting
Prospective tenant stops by while I am working on it in mid August, likes it and, puts down a deposit in mid August.
Work almost complete in mid September and tenant signs a lease to begin occupancy on October 1, 2014.
When was this home Placed in Service for depreciation start date? From what I am reading in the Nolo guide it would be September, but may be August on the initial showing and deposit? Any opinions?