ErnieS0
Expert Alumni

Investors & landlords

No. If the property was previously rented, there is information about the previous period that should be entered, including prior depreciation and passive losses (if any).

 

Check the passive activity loss and at-risk boxes if they apply. Consult your prior Form 8582s.

 

When you enter the house as a depreciable asset, match the information with your previous tax returns in terms of purchase date and date you first started using it for business. And enter the accumulated depreciation, which would be different since you did not rent in 2018 and 2019.

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