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Get your taxes done using TurboTax
Hi @Critter-3, I just started renting it in 2022. I've not claimed depreciation on my condo previously. My question relates to the useful life of my rental condo. I read that straight line depreciation would be used here, and that the useful life is 27.5 years. Given that the age of my condo (34 years) exceeds 27.5 years, I was wondering if my condo was fully depreciated and I therefore could not claim depreciation on it?
‎December 12, 2022
5:24 PM