2nd Home to Rental --> When does depreciation begin?

[Kelly Jones]

I lived in my house from 2003 - 2012.  I moved into a new home in 2012 and kept this house for a 2nd home.  I will begin renting the house in 2023 (10 years after moving out).  Question is...when do I capture the value to calculate depreciation?  Would it be from 2012 when I moved out?  Or, would it be in 2023 when I officially begin to rent the property?  

I feel like it would begin in 2012 since I COULD HAVE rented it out if desired, thus I should use that value to begin depreciating even though I've missed 10 years (2012 - 2022).  I'm not worried about the lost depreciation if that is true...I simply want to be sure I use the right value (2012 or 2023) once I begin receiving rental income.  

Thank you!

kmj

[Yonah Weiss]

@Kelly Jones the depreciation would begin when you place it in service as a rental (2023 in this case) and your depreciation tax basis will be based on the original purchase price. 
Even though you 'could have rented it out'--you didn't, as you said you used it as a second home.