Using a vacation home more than 10% of time (depreciation)

[Steven Logue]

Hello,

I recently purchased a rental property and for the first partial year we used it 20 days and it rented 20 days (purchased at the end of the season).  Since we used it above the threshold to be considered an investment property only do we still depreciate it (on a pro-rata basis)?

I'm trying to assess going forward if we will need to account for depreciation or if we continue to use it above the 10% rule is it a moot point.  The tax savings from Depreciation are nice but it also might be nice to avoid depreciation recapture.

Thanks!

Steve