Updated over 3 years ago on .
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Utilize Depreciation Schedule?
Hi All,
Recently purchased a older commercial property. The property has had two previous owners. My question is; can I use depreciation against my rental income (on the standard 27.5 years schedule) even though the previous owners have also depreciated the property?
Maybe another way to ask the questions is this; Does the depreciation schedule stay with the property OR start a new with a new owner?
Thank you everyone for your input!