I own US rental, owned prior to moving to CA. When reporting for CA tax purposes, Should original house cost basis be the starting point to calculate depreciation?
01931
1 Replies
TurboTaxTatsiana1
New Member
Oct 30, 2019 2:25:27 PM
You had a deemed disposition of property at FMV from personal use to rental when you started renting it. This is your Cost basis for depreciation on Canadian tax return.