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Deductions & credits
You continue to depreciate the 'old' house (carryover Basis) using the original "placed in service" date of the 'old' house. That will 'finish' depreciating that part.
You then create a second asset to depreciate the 'extra' money paid for the new property, using the new property's placed in service date.
‎October 12, 2024
9:10 AM
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