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    depreciation part year for converted sch e to personal use

    Christine384
    Level 2

    Client had 3 months for Airbnb, then converted to personal property.  How do I get that reflected for depreciation without a gain or loss.  Not a full year deprec only 3 month.

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    2 Comments 2
    Karl
    Level 9
    Level 9

    I would put an override on Screen 22 Depr for the partial-year amount of depreciation and leave it tied to the rental activity on Screen 18 for this year. Next year, I'd change Screen 22 link for that/those asset(s) from form type "3" (Sch E rental) to "17" (Form 4562 only) to keep legacy record of accumulated depreciation for the eventual sale of the property for depreciation recapture.

    ETA: I just realized that my nomenclature was Lacerte-specific and you might be using a different software.

    *If this (or another answer/reply) solves your problem, please click "Accept as Solution" to get this post out of the "Unanswered" queue of posts.*
    Christine384
    Level 2

    thank you so much.  I do use Lacerte.