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Get your taxes done using TurboTax
Thanks for your reply. The accumulated depreciation shown makes sense. I'm not understanding what you mean when you say the difference between that accumulated depreciation and "the cost" would be the basis. The Cost on my form is 87,750. This is the fair market value shown for my improvement only, off of my property tax bill back in 2011. This same 87,750 is shown under depreciable basis on my form. So it seems those two are the same? See attached screen shot.
Back to my original post, does it make sense that the Adjusted Basis of Home Sold Worksheet is blank?
Ultimately, if my entries are right, I still need to zero out some line item assets that I have listed under the property from when I depreciated a couple appliances and the refinancing fees I paid the year I put it into service.