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Kolds57
Returning Member

House destroyed

My rental house was destroyed in June of 2023, but I still received rent through my insurance company. This rent ended in 2024. Can I depreciate the house through 2024?

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‎March 7, 2025 7:52 AM
last updated ‎March 07, 2025 7:52 AM
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ThomasM125
Expert Alumni
Expert Alumni

House destroyed

No, you can't depreciate something that is no longer there. You can deduct the unclaimed depreciation when you report the disposition of the property though, as you will deduct the undepreciated portion of the cost basis of the house when you report it's disposition for tax purposes.

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‎March 7, 2025 8:05 AM
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