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Investors & landlords
Thank you, @Carl .
2016 4562 Form has 0 for "Land".
In current return, I have entered the 0 for COST OF LAND. For COST, I entered "Cost (Net of Land)" amount from 2016 since "Land" was 0.
Total refund has not changed and depreciation amount applied for this property shows a consistent amount as in prior years when it was a rental full time.
I thought in one of your earlier messages you had said that for COST, I need to take the cost from when I purchased it and reduce it by the cumulative depreciation up until 2019? Or is this not the case and I need to enter COST as original COST and just need to enter the cumulative depreciation used in prior years in the below question:
"Amount of Depreciation Taken in Prior Years (not including any section 179 deduction or first year special depreciation allowance deduction)"