and bought a condo in Colorado for her personal use in 2011 she paid $250,000 of which none of the cost was allocated to land in 2016 she replace the furnace and air-conditioning system for a total cost of 10,000 into thousand 17 she converted the property to a rental property at the time of conversion the fair market value of the property was 300,000 what is the basis for depreciation of the condo