depreciation for the full year

I Rent my residence for four months every year. TurboTax says I need to take depreciation for the full year. Can't I prorate it for just the four months actually rented per year? 8 months of personal use per year.

posted

it should end up being prorated like all the other expenses such as utilities and taxes, because of the extent of personal use the rental portion of interest and taxes is not limited to rental income. other rental expenses are limited to any remaining income from the rental. they are subjex=cct to ordering rules and to the extent not currently deductible they can be carried over. when you sell the property only the rental portion of depreciation will be subject to recapture