If I rented my property from 1/1/2016 - 12/31/2017, lived in it for a year (1/1/2018 - 12/31/2018), and then rented it out again beginning 1/1/2019, how do I depreciate the rental the second time around? Do I use a 27.5 year period or 25.5? Do I need to get another appraisal to value the property as of 1/1/2019 to determine lower of basis or FMV? How would I determine the basis the second time around (would it be the adjusted basis of the property at the end of the first time I rented the property)?
