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Level 1
posted Mar 29, 2025 3:28:34 AM

I converted a rental property to primary residence. For depreciation calculation purpose, turbotax asks for a business %, is it still 100%?

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2 Replies
Expert Alumni
Mar 29, 2025 4:05:24 AM

It would be 100% up until the date that you took it out of service as a rental property.  

 

At the point that it was converted to a primary residence, the business use percent would be zero and depreciation would not apply unless a portion of the property was still being rented.

Level 1
Mar 29, 2025 7:34:13 AM

@AnnetteB6 Thanks for your quick response. This is clear now.