Thank you very much, very kind of you for clear response. But I might need to add a bit of detail.
For your point '3', the $12,000 has a few items. I followed TTax menus and I entered under these heads
A) Expenses:
a) Utilities, HOAfee, Maitenance, Rent mgmt fees, insurance, property tax etc. - 6,000/-
B) Assets/Depreciation:
a) Residencail = Purchase price 500,000 - land value 100,000) TTax calculated depreciation - 15,000/-
b) Landscaping = 3,000/-
c) Appliances = 3,000/-
In this, 12,000 comes from Aa, Bb, Bc. WithTTax menus, I entered these amounts under
"Assets/Depreciation - Property, Improvements, Appliances, Points'
And thus assumed this 12K will become part of the basis just like Ba would have.
Am I correct till now? Pl. see if you can help verify the above for correctness.
Now since rental income was also just $15,000 only, it seems to have gotten netted off against Ba (15K). And thus the 12K (which in my earlier note I rounded to 10K for ease of communication) is left out as unclaimed loss. But I took one time 179 thing on this 12K, and thus got left out? I am vaguely understanding that you are suggesting to not to take 179 on this 12K OR add it to purchase price basis in Ba to spread it 27 year like house basis?
And if in 179 one time way or 27yr way, if the net is still loss, it will be still less than 25K you mentioned in your '2'. Then does TTax will keep the loss with it and apply it somewhere in the final processing of this return? If, yes, where do I look in the TTax?
Pl. clarify.
regards
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