TaxGuyBill
Level 15
02-03-2022
04:03 PM
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Unfortunately, if it truly is not a rental, then it is considered taken out of "service" for depreciation purposes. That means whenever it is placed back in "service", you restart the depreciation from scratch, using the LOWER of (a) Adjusted Basis (don't forget to factor in previous depreciation) and (b) the Fair Market Value when placed back in service.