Depreciation

[lovesledz]

Taxpayer owns and operates a service station which he fully depreciates. He then retires and begins renting the station to another party to operate. I assume that because the building was fully depreciated before he began renting it, the only depreciation would be for new improvements to the property, correct?

[Matt Sova]

Correct

Yes, it is fully depreciated, you cannot depreciate it again.