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If I purchased a portion of my home in one year and then bought my partner's share in another year, how is depreciation calculated?
I originally purchased a 50% share of a property in 2009 (aggregate purchase of price of $175k for the property) and subsequently purchased my partner's 50% share (at a cost of $121k for her portion only) in 2016. I then paid off the mortgage in 2017 and began renting out the property in March of 2018. How do I calculate the Original Purchase Price, Available Date and Purchase Date in order to determine the depreciation (i.e. what amounts and dates should I use for each field)?
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‎June 4, 2019
6:33 PM