Taxpayer owned a house that was rented to S-corp (doctor) for 20+ years for his office and has been fully depreciated under ACRS. Doctor has downsized his practice and moved into an office at another Doctor's office. They are now renting house to son at FMV. Can they again depreciate under MACRS? I don't think so, but I can't find any reference.
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Last edited by ecb34691; 01-19-2007, 04:38 PM. -
No If they do any capital improvements that would be macrs but you only get to drepreciate once,
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