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To clarify, the hailstorm destroyed roof was the original roof from the 2005 rental home purchase, so I need to remove the portion of the adjusted basis for the destroyed roof only and the basis for the rest of the home should continue to be depreciated over the 13 years left from the original 27.5 year depreciation schedule. I have already calculated the basis of the destroyed roof using a partial asset disposition calculator from the KBKG website. My problem is how to do the entries on TT for a partial asset disposition to get the future depreciation correct.
May 4, 2021
11:28 AM