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Depreciation Calculation for Property Ready and Available to Rent mid-December
We had never made our vacation condo available to rent last year until we decided to remodel it and then turn it into a rental property. The remodel occurred in the October/November time frame and we then made it available to rent on Dec 17. We actually rented it 5 days in the remaining part of December for $3400. We had no personal use August through December when we were preparing and recovering from the remodel.. How do we determine Depreciation since we did not begin to rent the property until mid month in December? Thanks.
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‎February 27, 2024
4:51 AM