Discussion:Primary home converted to Rental for depreciation?
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Discussion Forum Index --> Tax Questions --> Primary home converted to Rental for depreciation?
| 7 February 2007 | |
| Just got a client who converted personal home into rental in Oct/2006 and trying to take straight line depr according to client the home was FMV @ $250K and client doesnt know land value what is the best method to find out land value of a home per depr?? | |
| 7 February 2007 | |
| Lower of FMV or adjusted basis must be used. Regarding land, probably the tax assessor statement. | |
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