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Investors & landlords
Thanks Carl, very interesting discussion. Indeed the last tenant had lived there for 4 years continuously, and moved out Jan 31, 2019.
It's interesting that I can *choose* the 'conversion to personal' date to be either:
(1). A day after the tenant's move-out date
(2). A day after the stop-advertising date / 'stop being available' date
(3). A day before my move-in date
I'll choose the stop-advertising date (Aug 31), but very interesting that you'd choose Jan 31 to stop depreciation ASAP. I'd think it'd be the OPPOSITE. Wouldn't you want 8 months of depreciation so your deduction is bigger, instead of 1 month?
‎July 12, 2020
5:24 PM