RobertB4444
Expert Alumni

Investors & landlords

The cost basis of your depreciated property is based on the answers you gave when you set the property up initially.  It is based on what you paid for the property when you bought it as well as any costs you incurred to buy it and set it up.  You would have entered all those numbers when you created the asset and TurboTax has just carried them forward.  If you go back to the tax return year that you entered the asset initially you will find a little more detail on the basis that you set up.

 

@mohojo 

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