In order to plan ahead for the time when you may move out of your half of the property and convert it to a rental, you should treat each half of the building as its own entity within your tax return.
Therefore, when entering information for depreciation of the rental portion, divide the purchase price, fair market value, and value of land in half. The other half of those figures will stay with your residential portion for now. By doing this, you will depreciate 100% of the rental side of the property, but the starting point is half of the total cost.
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