I purchased a property through a 1031 exchange in 2005 and rented it 100% until 2008, after which it was not available for rent and used only for occasional personal use. It was re-instated as 100% rental property in Jan 2023.
Twenty years into its depreciable life, I was trying to use its cost basis as it was in 2008 ( about $15000) in the TT dialogue, but there seemed to be no question to indicate accounting for this 15 year gap in time. I am not sure when each question refers to "this" business - whether it refers to the newly re-instated one (eg Have you used this business 100% since you acquired it? since the answer is "Yes: for the periods it was available; but obviously "No, for the period it was not on the market. ). If I answer the question regarding "date purchased or acquired" with the 2005 information, it assumes I have been renting it since then. By using the 2008 cost basis as the price and entering the date of Jan 2023, I get what seems like the correct answer, but the process is wrong and it also starts the depreciation again at 27.5 years.
The temptation is to just assume it is fully depreciated and deal with the full amount of depreciation recapture whenever it is sold.
I would appreciate a suggestion how to navigate this.
