Hi,
When completing the depreciation schedule, I entered all the correct data but the current calculation for my renal home depreciation is approximately 1/2 of what the amount was for last year. The method in TT is 27.5 years SL. If I take the value value of the home (the purchase price) and divide by 27.5 my depreciation should be around $3950 give or take. TT calculated it to be $2750 ish this year. I don't understand the significante difference since SL depreciation is used.
Additionally, I put a new roof and I understand I need to depreicate that as well. How do you classify the entry in TT. The catagories are: rental real estate property, computer, video, photo..., tools, macheniry, equipment furnature..., and intangibles/other property?
I put the roof on in 2021 but the depreciation in TT is far greater than the amount from last year. I seem to recall that a roof is depreciated over the same time period as the house, 27.5 years but not absolutely certain this is correct.
Thanks.
