Glad we are on the same page now, @Carl . Sounds like my original inputs were right. Going to keep Schedule E and claim rental expenses. If I want to skip depreciation, am I just skipping the "Assets" section in the EXPENSES / ASSETS (DEPRECIATION) under Rental Property Info? And if I want to keep the depreciation, can you confirm the below.
COST- can you confirm if I still need to back out prior year depreciation from cost?
Percentage of time I used this item for this business in 2022 (e.g., 80%): - can you confirm if this should be 50%?
Selections made:
- No, I have not always used this item 100% of the time for this business.
- I first used this item at least part of the time for this business, and also used it for personal purposes.
Date I started using it in this business: 10/1/2015
