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Deductions & credits
Hi, I hope this gets to all of you who so kindly responded to my question. Thank you! I had no idea i would get a response that is why this is so late. So I started using this person because I listened to their radio program, they were well respected and we had just bought another home and were going to keep the first home to rent out. I thought their price was reasonable and i kept decent records but didn't understand the depreciation part of rental. The first 5 years they did the depreciation on the home itself and some appliances i replaced, using the correct forms The 6th year which was in 2008 shows no depreciation on SchE1040, no 4562 Dep and Amor, no dep and amor report E-2, or Alter minim tax dep. report, which they all did in 2007. I expected this person to be accurate in what was allowable but never looked closely until this year when trying to do my 2017 taxes by myself with Turbo. I have no idea what to do. I am kind of freaked to approach this person. Any suggestions would help me. i need to file 2017,2018, and 2019. I am not good at this stuff but i always keep my receipts but don't know the proper way to keep them organized. We have had 2 cancer diagnosis in our family in the past 4 years and i find that taking care of others has left me putting off what i should have done for my own well being, if any of you wonder why i have procrastinated. I am going to sell this house this year if possible or next year, its too stressful on us. And now i just learned that the IRS will charge me the recapture whether i took it or not. Since this is a pretty big mistake, how could a Tax Atty not know they are not taking depreciation for the home itself ????