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I own a two family house, since purchase in 1986 one unit has been a rental and is being depreciated. The other unit has been owner occupied with the exception of years 1988 to 1991 when it was rented and also depreciated. I now may want to rent the second unit again, the question is where do I begin the depreciation?
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No. of Recommendations: 0
I own a two family house, since purchase in 1986 one unit has been a rental and is being depreciated. The other unit has been owner occupied with the exception of years 1988 to 1991 when it was rented and also depreciated. I now may want to rent the second unit again, the question is where do I begin the depreciation?

You begin (again) to depreciate the "sometime' rental where you left off, OR, at the fair market value on the date you re-rent, whichever is LOWER. I presume that in 1988 thru 1991 you showed two separate rental properties on your sch E. The 'forever' rental and the 'sometimes' rental.
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