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Updated about 4 years ago on . Most recent reply

User Stats

75
Posts
51
Votes
Jeff Rogers
  • Investor
  • Duluth, MN
51
Votes |
75
Posts

Converting primary residence to rental - depreciation?

Jeff Rogers
  • Investor
  • Duluth, MN
Posted

Hi BP community!

New to this all, but have spent a couple months reading, listening to podcasts, reading forum posts. I started making an inquiry of an off market property and found a new/different opportunity from the same seller and am looking for some thoughts.

Basically I'm considering buying a SFH that's currently a rental, moving my family and I into it for 1-2 yrs, then holding onto it and rent it out. My question is if I make improvements on it in year 1 while it's a primary residence, can I take the expense write offs and begin the depreciation expenses in yr 2 when it's no longer primary but a rental? Ideally I'd like to take advantage of bonus depreciation and/or 100% bonus depreciation.

Thanks!

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