Question on the depreciation deduction.

[Brian M.]

Question on the depreciation deduction. My ex and I purchased a Multi-tenant house 20 years ago. During this time my ex and I rented out the studio, lived in the house and claimed depreciation on it. After 20 years I bought her out of the house with a cash out refinance then rented out the house and studio. Hypothetically the house was purchased at 300,000 then 20 years later was re-appraised and refinanced at $600,000. Do I only have 7.5 years left to depreciate and can only depreciate at 300,000 or does my time start over $600,000?

Thanks for your help.

[Ashish Acharya]

If you are starting the depreciaton on the house as renting it for the first time, you do 27.5 at 300k. This is a response with very limited details here.