Thank you for your response. I am unsure if I am clear, so let me provide an example. Let's say the depreciation of the building had reached 27 years. 1/2 of the building is dedicated to apartments, and I understand improvements that affect the entire building are only partially deductible for the apartments. If we paint the building (which would be a significant expenditure), would that 1/2 portion for the apartments still be able to be depreciated for 27 years? This would be an improvement to the building ~ but a paint job wouldn't last 27 years... This means we would get a little yearly as long as we own the building.
I understand the recapture of the depreciation upon the sale of the property. Let's say we put new appliances in one of the apartments after year 27. If higher than the threshold, would this be depreciated over 27 years? It would be completely different appliances than previously. I think this would be the replacement of items.
As you pointed out, "Once the main residence is fully depreciated, nothing will change except you no longer have depreciation expense to deduct from your rental income." Does this mean that improvements to the building are no longer depreciated?
Thank you in advance for clarification on my mush-filled brain.. 😜
