Amy, another concern I have is about the depreciation for the Rental Property that we own. The depreciation schedule that we obtained from the CPA has a current year depreciation and the next year depreciation in it. The next year depreciation (in the schedule that the CPA gave) should match the depreciation that TurboTax has calculated for me for the year 2020, and they do not seem to match.
In fact, TurboTax depreciation is much lower than what the CPA calculated. For the Rental Real Estate, the convention used is MACRS, depreciating over 27.5 years. What could be going on?
