spuriouscardigan
Returning Member

Investors & landlords

Thank you @DaveF1006  for the quick response!

Just want to clarify that this was a rent-back agreement where we honored the pre-existing rental for 50 days.

After reading the following IRS publication, I don't think rent-back agreement's qualify for depreciation.

https://www.irs.gov/taxtopics/tc704

 

I also looked at this thread and probably will treat it as a cost-basis adjustment (kick the can down the road to when I sell the place).

https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/rent-back-post-settle...