We had a rental property for 15 years that we demolished and built a new house and ADU on the same site. So how do I stop the depreciation on the old property and add in the "improvements" which is the new build?
The old property was demolished Jan 2022 and we finished the new house June 2023 and rented it right away (long term rental). The ADU wasn't finished until 2024 and is operated as a short term rental.
Thanks.
