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Get your taxes done using TurboTax
Hi there, here are some further clarifications that may help you:
Depreciation method - should be straightline because it's a residential rental
Useful life = 27.5 years x 12 months (residential property)
State Prior Depreciation taken - should be the same as the federal for most states because there is no accelerated rate for this type of asset
Depreciation for 2017 - should be the same as federal - also should be the same as last year if you also rented the unit out the whole year in 2016.
‎June 3, 2019
10:22 AM