@Opus 17 @Mike9241
I appreciate your responses and sounds like using Form 3115 is NOT what I should to do. Also, sounds like I missed the boat to take Safe Harbor / de Minimis expense.
For clarification, I rented out 50% of the property starting in 2016 and now in 2023 I am converting it to 100% rental use. I have seen some posts that TurboTax is a little difficult to make changes to the percentage of business use.
When I originally entered depreciation information, I used the full cost basis (100%) of the house but indicated it was used only 50% as rental, so depreciation was calculated at 50% of allowable per year over 27.5 years. Now, I am entering 100% rental in 2023 and the depreciation is calculated at 100% allowable per year.
I checked the depreciation calculations by subtracting the previous years depreciation and extrapolating out the new 100% depreciation per year for the remaining useful life and and they seem to be correct and add up to the total cost basis if taken over 27.5 years.
I have seen some posts that recommend taking the original asset out of service (placed in service in 2016 with 50% depreciation) and then entering a new asset (placed in service in 2023 with 100% depreciation), but I don't see how this changes the depreciation calculations.
Am I still missing something?
