- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
Thank you for the additional information.
You can disregard the prior rental period as that was a different entity.
The historical deprecation should have been addressed in the sale of the property from the LLC to you as a individual.
There is no prior depreciation and your date in service begins in 2020.
For 2020 your basis for depreciation is the $70,400 plus any improvements you made since you purchased the condo in 2014.
March 14, 2021
11:50 AM
426 Views