{"id":147139,"date":"2025-05-24T13:58:37","date_gmt":"2025-05-24T13:58:37","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/"},"modified":"2025-05-24T13:58:37","modified_gmt":"2025-05-24T13:58:37","slug":"can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/","title":{"rendered":"Can you claim depreciation on rental property if it\u02bcs paid off?"},"content":{"rendered":"<p><b>Yes, you can still claim depreciation on a rental property even if it&#8217;s completely paid off.<\/b> Depreciation is a tax deduction that applies to the purchase price of the property and is not dependent on whether or not the property has a mortgage.<\/p>\n<p>Depreciation is a valuable tax deduction for rental property owners. It allows you to deduct a portion of the property&#8217;s value each year as an expense, even if the property is fully paid off. This helps offset the rental income you receive and potentially reduces your tax liability.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#FAQs_about_claiming_depreciation_on_rental_property\" title=\"FAQs about claiming depreciation on rental property\">FAQs about claiming depreciation on rental property<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#1_How_is_depreciation_calculated_for_rental_property\" title=\"1. How is depreciation calculated for rental property?\">1. How is depreciation calculated for rental property?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#2_Can_you_only_claim_depreciation_on_the_building_or_can_you_include_other_improvements_as_well\" title=\"2. Can you only claim depreciation on the building, or can you include other improvements as well?\">2. Can you only claim depreciation on the building, or can you include other improvements as well?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#3_Are_there_limits_to_how_much_depreciation_you_can_claim_on_a_rental_property\" title=\"3. Are there limits to how much depreciation you can claim on a rental property?\">3. Are there limits to how much depreciation you can claim on a rental property?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#4_Can_you_claim_depreciation_on_rental_properties_that_are_used_for_both_personal_and_rental_purposes\" title=\"4. Can you claim depreciation on rental properties that are used for both personal and rental purposes?\">4. Can you claim depreciation on rental properties that are used for both personal and rental purposes?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#5_Do_you_have_to_take_depreciation_on_your_rental_property\" title=\"5. Do you have to take depreciation on your rental property?\">5. Do you have to take depreciation on your rental property?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#6_Can_you_claim_depreciation_on_rental_property_if_it_was_inherited\" title=\"6. Can you claim depreciation on rental property if it was inherited?\">6. Can you claim depreciation on rental property if it was inherited?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#7_How_does_claiming_depreciation_affect_the_eventual_sale_of_a_rental_property\" title=\"7. How does claiming depreciation affect the eventual sale of a rental property?\">7. How does claiming depreciation affect the eventual sale of a rental property?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#8_Can_you_claim_depreciation_on_rental_property_if_it_is_in_another_country\" title=\"8. Can you claim depreciation on rental property if it is in another country?\">8. Can you claim depreciation on rental property if it is in another country?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#9_Is_there_a_limit_to_how_long_you_can_claim_depreciation_on_a_rental_property\" title=\"9. Is there a limit to how long you can claim depreciation on a rental property?\">9. Is there a limit to how long you can claim depreciation on a rental property?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#10_Can_you_claim_depreciation_on_a_rental_property_if_you_live_in_one_unit_and_rent_out_the_others\" title=\"10. Can you claim depreciation on a rental property if you live in one unit and rent out the others?\">10. Can you claim depreciation on a rental property if you live in one unit and rent out the others?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#11_What_happens_if_you_forget_to_claim_depreciation_on_your_rental_property_in_previous_years\" title=\"11. What happens if you forget to claim depreciation on your rental property in previous years?\">11. What happens if you forget to claim depreciation on your rental property in previous years?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#12_Can_you_claim_depreciation_on_a_rental_property_that_is_vacant_or_not_generating_rental_income\" title=\"12. Can you claim depreciation on a rental property that is vacant or not generating rental income?\">12. Can you claim depreciation on a rental property that is vacant or not generating rental income?<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"FAQs_about_claiming_depreciation_on_rental_property\"><\/span>FAQs about claiming depreciation on rental property<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"1_How_is_depreciation_calculated_for_rental_property\"><\/span>1. How is depreciation calculated for rental property?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nDepreciation is typically calculated based on the cost of the property, excluding land value, divided by the useful life of the property (usually 27.5 years for residential rental properties).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Can_you_only_claim_depreciation_on_the_building_or_can_you_include_other_improvements_as_well\"><\/span>2. Can you only claim depreciation on the building, or can you include other improvements as well?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYou can claim depreciation on both the building itself and any improvements made to the property, as long as they have a determinable useful life.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Are_there_limits_to_how_much_depreciation_you_can_claim_on_a_rental_property\"><\/span>3. Are there limits to how much depreciation you can claim on a rental property?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYes, the IRS sets guidelines on the maximum amount of depreciation you can claim each year based on the property&#8217;s value and useful life.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Can_you_claim_depreciation_on_rental_properties_that_are_used_for_both_personal_and_rental_purposes\"><\/span>4. Can you claim depreciation on rental properties that are used for both personal and rental purposes?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIf you use the property for both personal and rental purposes, you can only claim depreciation on the portion used for rental activities.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Do_you_have_to_take_depreciation_on_your_rental_property\"><\/span>5. Do you have to take depreciation on your rental property?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nWhile you are not required to take depreciation on your rental property, it is generally a smart tax strategy to do so in order to reduce your taxable income.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Can_you_claim_depreciation_on_rental_property_if_it_was_inherited\"><\/span>6. Can you claim depreciation on rental property if it was inherited?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYes, if you inherited a rental property, you can still claim depreciation on it based on the property&#8217;s fair market value at the time of inheritance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_How_does_claiming_depreciation_affect_the_eventual_sale_of_a_rental_property\"><\/span>7. How does claiming depreciation affect the eventual sale of a rental property?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nClaiming depreciation reduces the property&#8217;s cost basis, which can result in higher taxes when the property is sold because the depreciation claimed must be recaptured at a higher tax rate.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_Can_you_claim_depreciation_on_rental_property_if_it_is_in_another_country\"><\/span>8. Can you claim depreciation on rental property if it is in another country?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYou can only claim depreciation on rental property located in the United States. Foreign properties are subject to different tax rules and regulations.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_Is_there_a_limit_to_how_long_you_can_claim_depreciation_on_a_rental_property\"><\/span>9. Is there a limit to how long you can claim depreciation on a rental property?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYou can continue to claim depreciation on a rental property until you have fully recovered the property&#8217;s cost or until you stop generating rental income from the property.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_Can_you_claim_depreciation_on_a_rental_property_if_you_live_in_one_unit_and_rent_out_the_others\"><\/span>10. Can you claim depreciation on a rental property if you live in one unit and rent out the others?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIf you live in one unit of a multi-unit property and rent out the others, you can still claim depreciation on the portion of the property used for rental purposes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_What_happens_if_you_forget_to_claim_depreciation_on_your_rental_property_in_previous_years\"><\/span>11. What happens if you forget to claim depreciation on your rental property in previous years?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nIf you forget to claim depreciation in previous years, you can file an amended tax return to correct the oversight and potentially recoup some of the missed tax benefits.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_Can_you_claim_depreciation_on_a_rental_property_that_is_vacant_or_not_generating_rental_income\"><\/span>12. Can you claim depreciation on a rental property that is vacant or not generating rental income?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\nYou can still claim depreciation on a rental property that is vacant or not generating rental income as long as it is available for rent and you are actively trying to find tenants.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yes, you can still claim depreciation on a rental property even if it&#8217;s completely paid off. Depreciation is a tax deduction that applies to the purchase price of the property and is not dependent on whether or not the property has a mortgage. Depreciation is a valuable tax deduction for rental property owners. It allows &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Can you claim depreciation on rental property if it\u02bcs paid off?\" class=\"read-more button\" href=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#more-147139\">Read more<span class=\"screen-reader-text\">Can you claim depreciation on rental property if it\u02bcs paid off?<\/span><\/a><\/p>\n","protected":false},"author":35,"featured_media":107420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86279],"tags":[],"class_list":["post-147139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learn","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Can you claim depreciation on rental property if it\u02bcs paid off?<\/title>\n<meta name=\"description\" content=\"Yes, you can still claim depreciation on a rental property even if it&#039;s completely paid off. 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Depreciation is a tax deduction that applies to the purchase\" \/>\n<meta property=\"og:url\" content=\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it\u02bcs-paid-off\/\" \/>\n<meta property=\"og:site_name\" content=\"Namso Gen Blog - Free Credit Card Generator [100% Valid]\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/synchronyfinancial\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-24T13:58:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/namso-gen.co\/blog\/wp-content\/uploads\/2024\/03\/faq.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Michelle Rowland\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@synchrony\" \/>\n<meta name=\"twitter:site\" content=\"@synchrony\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michelle Rowland\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/\"},\"author\":{\"name\":\"Michelle Rowland\",\"@id\":\"https:\/\/namso-gen.co\/blog\/#\/schema\/person\/50729c0708416da7c8fa3caf41e9a572\"},\"headline\":\"Can you claim depreciation on rental property if it\u02bcs paid off?\",\"datePublished\":\"2025-05-24T13:58:37+00:00\",\"dateModified\":\"2025-05-24T13:58:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/\"},\"wordCount\":602,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/#organization\"},\"articleSection\":[\"Learn\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/\",\"url\":\"https:\/\/namso-gen.co\/blog\/can-you-claim-depreciation-on-rental-property-if-it%ca%bcs-paid-off\/\",\"name\":\"Can you claim depreciation on rental property if it\u02bcs paid off?\",\"isPartOf\":{\"@id\":\"https:\/\/namso-gen.co\/blog\/#website\"},\"datePublished\":\"2025-05-24T13:58:37+00:00\",\"dateModified\":\"2025-05-24T13:58:37+00:00\",\"description\":\"Yes, you can still claim depreciation on a rental property even if it's completely paid off. 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