Re: Depreciation of rental property rented after a...
Level 3

Investors & landlords

Hello Carl,

 

Many thanks for the tips and offer of help. 

 

Property placed in service (available for renting): 4-11-2014

Stopped depreciation of property on 12-31-2014, property sat vacant, not used personally, not tenanted

Cost basis: $270,804, Land: $18,994, Structure: $251,810

Depreciation during 2014: $4,459 (40 years , MM, S/L), Prior year depreciation: 0

In addition, furnishings cost basis $1,566, Depreciation during 2014: $109 (7 years, MQ, S/L)

 

Another issue I run into is that the depreciation period changes to 30 years if I start finagling, e.g., showing placed in service date to 4-11-2018 to avoid the gap years of 2015-2018, etc.

 

 

 

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