HSC1
Level 1

For depreciation on my rental property, do I use the assessed value the year we bought the house or the year we converted it to a rental?

We lived in our house for several years before converting it to a rental property.  Since you only depreciate the improvements value and not the land value, I looked up the valuations from the tax assessment.  But do I use the assessment from the year we bought the house, or from the year we converted it to a rental property?