dkh
Level 15
04-02-2022
12:41 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Wouldn't the 50% portion that was principal residence begin in 2021 with 27.5yr depreciation? In other words, leave the asset with the 50% basis that has been depreciating for the last ten years and setup a new asset with 50% basis that has a placed in service date of xx/xx/2021.
That's how I would handle if it was my client.