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Why does TT calculate part year depreciation for real estate different from IRS rules? Shouldn't it be mid-month of month sold? TT calculates it based on prior month.
I sold rental real estate on 6/20/2017. IRS indicates that depreciation for the year should be based on mid-month of month sold, so 6.5/12*annual depreciation. TT is calculating it based on mid-month of the prior month, not the month sold, or 5.5/12*annual depreciation. Why is this and is this correct?
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‎June 5, 2019
3:06 PM