Thanks for answering. I did convert the property from personal use to a rental in 2012. I think I should use FMV minus original closing costs minus land value for 2012 where TT asks for cost of property instead of original purchase price. I don't know if I should put conversion date or original purchase date there because it asks later for the conversion date. I was hoping it wouldn't depreciate prior years all at once or maybe just claim depreciation going forward only. I haven't worked through form 3115 yet so we'll see where that leads. Please comment so I can get through this correctly.
