Investors & landlords

I disagree with the others.  You need to restart the depreciation over 27.5 years, using the lower of the current Adjusted Basis and the  Fair Market Value.

 

Regulation §1.168(i)-4(c) says that conversion to personal use is treated as a disposition (but not gain or loss is calculated).  That means when you convert it back to rental use, it is treated like a new property.