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Investors & landlords
Thanks so much for the quick, detailed and informative response. One follow up would be how to value the rented room for depreciation purposes. In 2007, we paid $850K for the house and so the room at 17% of total square footage would have a value of $144,500. But we did not start renting the room until 2021 when the house value on Zillow was $1.4M, and 17% of total value is $238,000. Which amount is appropriate to use for depreciation purposes (minus land value)?
March 13, 2023
12:52 PM