To verify my assumptions on how to calculate past depreciation on a property. I originally put a home into a rental on 2/1/90. I used it as my home again on 3/1/16
My cost were 58740 and land of 51260 , purchased new on 1/1/88.
I checked NO ( I have not always used property for business use) The percentage of use business in 2020 was 75%
To establish my new depreciation :
I multiplied my annual past depreciation of $2136 by the number of years taken (26) with a total of $55,536.
That was the number I entered for the amount of depreciation taken in prior years.
Does all that sound correct???
