heevans2
New Member

How do we correct for depreciation on rental property?

We bought a house in mid-2008 for our son and family to live in.  They lived there rent-free until his passing in late 2016. The house sat idle for a year and a half although we made some major improvements anticipating renting it later.  We rented the house in mid-2018 until our tenants moved on in mid-2022.  We then sold the house (in 2022).  Since the time the house was put into service as a rental (mid-2018) we have not taken any depreciation on it.  How do we figure (and correct) depreciation on our 2022 taxes?