@Opus 17 wrote:
If you resume renting the property at a market rate, you can resume your depreciation.
Take a look at Treas. Reg. §1.168(i)-4(c). Rental (business) property converted to personal use is treated as a disposition; depreciation is not resumed.
With respect to rental property that is taken out of service and then placed back into service, the recovery period restarts at 27.5 years using the adjusted basis.
@AmeliesUncle had to correct an expert in another thread with respect to this issue.
