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Investors & landlords
If it was converted to personal use (and especially for more than one year), you re-start depreciation using the new "placed in service date" (October 2024) and the ADJUSTED Basis of the property (usually purchase price, plus improvement, minus depreciation).
However, whenever you eventually sell the property, you will need to know the prior depreciation amounts and report it in a different way in TurboTax.
‎January 31, 2025
1:40 PM