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How often may the depreciation be deducted?

Tax Question: If I have a beach front rental property in Miami, Floria and has deducted depreciation?

  • My friend have a beach front rental property in Miami, Floria and has deducted depreciation and other expenses from the rental. I know that some of the expenses are not deductible because the property was used for personal purposes. He said that he was making repairs to the property while he was there and that the use was therefore not personal. The personal use issue was not raised by the Service and settlement agreement treats the entire amount as deductible. What action can he take or what can I tell him?

  • Answer:

    Nothing. He handled it correctly.

Bob Barely at Yahoo! Answers Visit the source

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if he uses the property more than 14 days of each year, it is not rental property if he is repairing the property and staying in it during the time, he hasn't moved back in or even come back for a vacation, it would remain rental property

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