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Get your taxes done using TurboTax
Thanks for the reply! Follow up question: suppose that instead of disposing of the original partial rental and starting a new one for the whole house, I decide to keep the original rental in use and create a new one that accounts for the rest of the house that I'm now also renting out since May 2024 (so for the original partial rental I was renting out 36% of the house, and the new rental I create would account for the other 64%).
How should I go about setting this up this new 64% rental, particularly to also make sure I'm accounting for past depreciation from the original 36%? Also, how should I account for the roof when setting up the new 64% since I already added that to the original 36% rental?
‎April 9, 2025
1:11 PM