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Investors & landlords
@Carl wrote:
....you may find it easier and simpler to just convert it to personal use on your 2020 tax return with a conversion date of 1/1/2020.
If you follow that method, you will find that the property will be taken out of service (i.e., depreciation will cease) at the middle of January consistent with the mid-month convention.
As a result, TurboTax will still calculate a depreciation deduction for 2020.
May 15, 2021
1:18 PM