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Business & farm
Yes, you may report assets for a property rented during the tax year. As long as you didn't buy and sell the assets in the same year, you may take any available depreciation expense. But you are not required to take special/bonus depreciation - you can accept regular depreciation instead.
Note that you may be subject to "depreciation recapture" when you report that you converted the rental back to personal use. Basically, you pay taxes on the amount of depreciation you took if you dispose of the asset before its useful life is over. TurboTax will help you with that next year.
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‎June 4, 2019
1:58 PM