LeonardS
Expert Alumni

Get your taxes done using TurboTax

No, you do not need to add another rental for 2021.  You may continue to deduct the income, expenses, and depreciation for the rental period in 2021 without having to adjust the area rented.  You will keep the total depreciation taken in your tax records.  This will be needed when you sell your home the depreciation will be used to adjust the basis of the property when calculating the capital gain on the sale.

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