I have a condo that I bought to rent. On last year's taxes, there was a depreciation schedule. My daughter in the condo now (school). Can I still take the depreciation?
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I have a condo that I bought to rent. On last year's taxes, there was a depreciation schedule. My daughter in the condo now (school). Can I still take the depreciation?
I have a condo that I bought to rent. On last year's taxes, there was a depreciation schedule. My daughter in the condo now (school). Can I still take the depreciation?
It appears as if you have taken the property out of service as a rental and converted it to personal use (for your daughter to use as a temporary residence).
As a result depreciation would stop on the date it was converted to personal use.
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