But concerned because the old depreciation info is gone. Any special reporting requirements??
What do you mean "gone"? Did you convert the property to personal use on your 2021 tax return?
Basically, the property remains in service and depreciating until such time the last renter moves out, *OR* you decide to stop trying to rent it out.... whichever is *last*.
So if you were trying to rent it out after the property improvements were done, I would expect you to have "some" depreciation on those improvements.
Otherwise, if you never tried to rent it out after the property improvements were done, that means two things.
1. You will not enter the property improvements in the Assets/Depreciation section of the SCH E, and;
2. You can not report the sale in the SCH E section of the program. You have to report it in the "Sale of Business Property" section, so you can include the cost of your property improvements in the cost basis.
