This is my 1st year of renting my home out. I lived in it from Jan 2014 to June 2014 and my tenant moved in on 1 July 2014. I understand I can claim property depreciation (not the land) and that this would be straight line depreciation and I could claim 5.5 months (5 months and 1/2 a month for July); however, my question is, am I required to? I read that if I claim depreciation for say the next 3 years and then sell the house, the IRS can "tax" that and or recoup those costs when I sell. I just don't want to have lower taxes now and "lose" money when I sell in a few years. Any advice?
Thanks!
