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Get your taxes done using TurboTax
Hello hispalette,
Thanks for joining the event!
When your basement apartment is ready for rental, in addition to your income and expenses, you will claim depreciation for the value of the rental portion of your property. The improvements you have made will be added to that value then! This is a great article that helps explain depreciation: Rental Real Estate
Good Luck with your new rental!
JanetB211
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‎October 25, 2023
11:30 AM