8 Arms Accounting
Level 1
03-14-2024
03:43 PM
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My client has a commercial building that's been depreciated over the past 3 years. Last year they converted a portion of it into an apartment that they now live in. How do I "remove" or recapture that portion of the depreciation?
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sjrcpa
Level 15
03-14-2024
06:16 PM
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It stays since it was claimed. No recapture upon mere conversion to personal use. Just depreciate the appropriate business use percent now.
The more I know the more I don’t know.
