Thank you so much for the very precise directions to set this up for the "status" change within TurboTax!
So, to clarify, column A will continue to represent the rental side of the duplex but it will have,in essence, half divided amounts for the cost of the asset, land, prior depreciation and current depreciation numbers currently listed. Column B will represent the owner-occupied side for the August 1, 2020 date going forward. When you say, "Additionally, since this is a change in status, depreciation will start all over for the unit that remains a rental, based on the reduced cost basis you just figured." Do you mean that it will begin the 27.5 year depreciation all over? We may sell this property in a few years and I am wondering if it will all work the way it should.
Would I go through the same process for a roof which was set up for depreciation in 2017?
