Rental Depreciation Value

Forum|Forum|1 year ago
February 27, 2025
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I am depreciating the value of the Rental Property I own and am confused what to put for the value and date purchased. This was our family home from 1985 before we put it up for rent in 2024. Do we put it was purchased from that date? Also for the amount purchased is that what we paid in 85 or what it's worth when we started renting it out? Thanks!

Not A Product Question

DavidD66

Use the date you converted you house to rental property. For the cost, you should enter the original cost, plus any improvements you have made to it over the years. For example, a kitchen renovation, a new deck, new windows, new roof, etc. You do not use the value of the property, that is not relevant.

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