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Investors & landlords
Yes, for depreciation you would need to know the cost of your home and the fair market value when it (or a part of it) was placed in service as a rental property. The lower of the two values is the one that will be used for depreciation.
For your example, if 10% of the house is rented, then 10% of the cost or FMV will be used as the basis for depreciating the rented portion.
‎June 4, 2019
7:14 PM