Thanks so much Coleen. That makes a lot of sense. One quick follow up question. How do I handle depreciation? The cost basis for the detached garage is not split out on my property taxes and I have no idea when it was put in service or the cost. The square footage of the garage is 25.3% of the total building square footage including all unfinished areas (ie detached garage + attached garage + home living space). Can I simply split all my closing document info across what you are saying in essence is 2 separate properties by the area%? So if I paid $200,000 Can I say the detached garage is worth $50,600?
