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bicichica1
New Member

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?

 
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TurboTaxTatsiana1
New Member

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?

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.  

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