Cost and Land Values

[Duanzhuang]

I bough the condo in 2009 and lived there until 2016. Then I rented it out. In form 4562 for depreciation, the cost and the land value of the condo should be the values at the time it was bought or at the time when it was rented out?  The values are different.

[MinhT · Accepted solution]

The values used for land and improvements (the condominium itself) are your cost bases, i.e. the values at the time you bought the property.