Hi @pk ,
Thank you for your explanation. I have a similar situation as @pingguo38 where the transfer of the rental property (gift) occurred on April 2022. However, I am having trouble allocating the annual 2022's depreciation between the donor and myself in Turbotax.
The donor will be taking depreciation through April 2022 and I'll be taking depreciation from May 2022 - December 2022 but when I put in my donor's historical placed in service date (continues as if it was with the original owner), Turbotax automatically calculates the full year's depreciation amount. I am not able to change the full year depreciation amount to the pro-rata amount. Do you have any insights on how to enter it into TurboTax so it calculates the pro-rata amount? Thank you!
