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Updated over 10 years ago on . Most recent reply

Placed in Service Date
Trying to figure start date for IRS depreciation.
Purchased late July 2014 but work needed before renting
Prospective tenant stops by while I am working on it in mid August, likes it and, puts down a deposit in mid August.
Work almost complete in mid September and tenant signs a lease to begin occupancy on October 1, 2014.
When was this home Placed in Service for depreciation start date? From what I am reading in the Nolo guide it would be September, but may be August on the initial showing and deposit? Any opinions?