hello, I recently started part time STR of my home in 2022. If I plan to not continue to rent my home each year (or rent it off / on, ex: one year and not the next, Or do long term rentals, Or ..etc) would it make it sense sense to initiate the ‘start period’ of the 27.5 year depreciation process ?
I read online that even if you don’t take the depreciation benefit, and you rent your home, that if you sell before the 27.5 years are up you will still have to pay depreciation recapture. Can you discuss how this works as well ?
Thank you!
Katie