TaxGuyBill
Level 15
07-09-2023
01:36 PM
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@BobKamman wrote:
But maybe there is a special rule for property that goes from business to personal and back to business. If so, where did you find it?
§1.168i-4(c) says conversion to personal use is treated as a disposition for depreciation purposes (but no gain or loss is reported).
So if it was treated as disposed for depreciation purposes, then placing it in service again would start everything anew.