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Ask Millionacres: Should I Deduct Depreciation for a Temporary Rental Property?


[Updated: May 20, 2021 ] Jul 20, 2020 by Matt Frankel, CFP

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Q: We have purchased a second home but will not be moving there for a year and a half. We want to rent it out for the year we are in between. I would think I should avoid the depreciation deduction since we are only renting it for one year, and then it will become our primary residence. Would this be the best course of action? -- Molly

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