I'm using TurboTax Premier for the first time and on both of my rental properties the TurboTax calculation for depreciation if off by some amount:
One of my property the cost is : 295,010 and Land is: 44252
So, according to previous accountant tax return the figure is : 9118 ((295,010-44252) / 27.5
However TurboTax has it as 9101
The other one cost is: 315,369 Land: 47305
So, (315,369 - 47305) / 27.5 = 9747
Turbotax has: 9759
This should be a simple calculation from Turbotax. So, what is happening?
