Thank you for that
clarifying:
1985 purchase price is basis (minus land)= 100k
converted 1 bedroom to rental 1/1/2019 20% use ( we still live in the house)
so 2019 depreciation will be (100,000 * .20)/27.5=$727 ?
and we won’t have any prior “allowable” depreciation tacked on since it was just converted this year?
I am a little worried about how this works with recapture taxes if we ever sell the house later on
