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Updated over 2 years ago on . Most recent reply

Andrew Underwood's profile image
Andrew Underwood's profile image
Andrew Underwood
  • from Dallas, Texas
  • Member since Jul 18, 2014
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Andrew Underwood's profile image
Andrew Underwood's profile image
Andrew Underwood
  • from Dallas, Texas
  • Member since Jul 18, 2014
Connect
Andrew Underwood
  • Dallas, TX
0
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3
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House Hacking

Can I depreciate my house turned rental at current market value?

Andrew Underwood
  • Dallas, TX
Posted

We are looking for a new primary residence, and want to turn our house into a rental. Can I depreciate our house based on current values instead of the original sales price 12 years ago? Do I need to get it appraised to prove its current value? Assuming this is an option, is there anything else I need to do to prove this for tax purposes?

Dallas, Texas
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