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Updated over 9 years ago on . Most recent reply

how to depreciate a duplex, after you've already rented a room
I have a duplex, i lived in the bottom unit and had a roommate. Top unit was rented. I calculated 4% of the building was used for the room rental. I depreciated this value the last two years. He moved out last year and I moved out as well so now I'm renting the entire building. I had started to use a SL depreciation on the room rental but after only taking 2 years of depreciation i have 25.5 years left.
How do I handle depreciation on the entire building now? even though I claimed 2 years worth on 4% of the building.
Which forms do I have to fill out and what is the process.
Thanks!
Most Popular Reply

I'd seek advice from your accountant, definitely an important member of your real estate team
- Vincent Crane