I listed my principal residence condo for rent on April 29, 2021 and left it unoccupied until it leased for 5 months from Jun-Oct 2021. In November, I reoccupied the condo as my principal residence and intend to do a partial year lease again this year.
On the asset entry worksheet, I entered 4/29/2021 as the date placed in service and also entered 51% as the percentage of business use on line 6 (153 days leased + 33 days unoccupied divided by 365).
So, the depreciation amount is correctly calculated - 1yr / 27.5yrs x .7083 MM convention placed in service 4th month = .02576 of business use basis amount. I assume this represents depreciation from April MM to the end of the year. Since I reoccupied the condo in November, does the depreciation need to be adjusted or is that already accounted for in the 51% business use factor?
