Hi,
Thanks for detailed example explanation. I have $2003 original depreciation from 3/15/2018 and another $6867 inherited 2/3 depreciation from 3/12/2022 for one same rental property. Do I split the adjusted basis and land between these two depreciations? Or include $2003 original depreciation into the calculation of Adjusted basis of Asset just like Section 179 and Special and then put $0 for Sales of proceeds of Home/Land and $0 for Selling expenses of Home/Land?
Thanks
