Home purchase price $330,534
Prior (now retired) CPA had cost/basis at $99,504
1) Should I carry over exact same entry from CPA, or follow TurboTax prompts and enter actual price?
2) If I enter purchase price, should I declare prior CPAs prior depreciation (which is substantially less than what TurboTax assumes has already been depreciated) or disregard prior numbers altogether and simply follow the software prompts?
3) Any red flags by not staying consistent with prior filings?
The home was purchased as a rental. No foreseeable future to sell as a rental. Will reclaim as primary residence or be inherited should owner pass on. Therefore, tax recapture should be irrelevant, correct?
