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Level 3
March 2, 2025
Question

Client moved fulltime into their rental home. How do I suspend depreciation on the property while they are living there?

  • March 2, 2025
  • 2 replies
  • 5 views

My client moved into their rental home.  How can I suspend depreciation on the property while they live there?  I don't know how long they will reside there.

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2 replies

Intuit Community Champion
March 2, 2025

In the asset worksheet put the date on "date of disposition" when they stopped renting. Don't fill out anything else only date

Level 3
March 2, 2025

Thank you so much for your response

ljr
Level 9
March 2, 2025

I would print out and keep a copy of the depreciation schedule in the file somewhere just incase they start renting again or if they sell you have the prior depreciation amount for recapture

Level 3
March 2, 2025

Will do.  Thanks