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Depreciation -- Rental to primary back to rental

I purchased house in 2006 and immediately rented it out.  I moved in as a primary in July 2007 and lived until July 2019 when I started rerenting to tenants.  Do I list this property as a NEW "put in service rental" with the original basis minus all claimed depreciations?

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1 Reply
Carl
Level 15

Depreciation -- Rental to primary back to rental

Do I list this property as a NEW "put in service rental" with the original basis minus all claimed depreciations?

No, because that would start the 27.5 years of depreciation all over again from year one. You have to "pick up" the depreciation where you left off. There's no way to tell the correct way to enter this into TurboTax 2019, because the assets/depreciation section is still under construction.  I do know however, that if your situation had occurred in 2018, the program would have not handled your specific and explicit situation correctly. I discovered this about the program for 2018 just about a month ago and notified the forum moderators of this. So until the assets section of the program is completed and released for the 2019 program, I have no way of knowing how or even "if" you can correctly report your specific situation in the TurboTax program.

 

 

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