Tax benefits of STR

[Jennifer Kessler]

Hi there,

I purchased a primary home in 2022 with the hopes of converting a portion of it into a STR. The conversion unfortunately is not completed yet and therefore did not operate as a SRT in 2022. I'm curious if there is still a way to capture tax advantages in the future, such as bonus depreciation, since the STR was not created within the first year of buying the property. Hopefully my question makes sense. I'm open to other suggestions as well.

Thanks,

Jennifer