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Business & farm
Yes, you should claim the depreciation for the rental of your home because it is being operated as a business since you are renting it. It does not matter that you expect it to be only temporary at this point in time.
When you sell the property in the future, you will need to report that there was some business use of the home (both as a rental and for home office use). At that point, the depreciation that was claimed or should have been claimed will be taken into account. Therefore, you should claim the depreciation and use the tax advantage that it gives you by reducing your rental income.
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March 12, 2022
8:45 AM