Discussion:Rental Depreciation when business percentage changes

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Discussion Forum Index --> Advanced Tax Questions --> Rental Depreciation when business percentage changes
Discussion Forum Index --> Tax Questions --> Rental Depreciation when business percentage changes

Www.cpa1.biz (talk|edits) said:

19 April 2009
Almanacers,

I have a client who rented out his home for 100% of the year in 2007. in 2008 he rented out his home for half of the year because he started living back in it.

How woud you show this on the depreciation schedule?

Do you show it as two different assets being depreciated at 100% in 2007 and the other being depreciated at 50% in 2008?

I am having trouble trying to picture this on the depreciation report and would like your guidance on what you do when the business percentage is changed.

Please advise.

Thanks,

Bj

Kevinh5 (talk|edits) said:

19 April 2009
it didn't 'change', it stopped, as he took it out of service mid year. But I guess that IS a change.

you simply stop depreciating mid-month when he stops renting it out (the last month of rental).

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