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Investors & landlords
In the year of purchase you can add up the total cost basis for the rental for depreciation ... purchase price + cost to buy + improvements made before the place was rented = total cost basis which will be divided between the land and the structure.
Refinancing costs later must be amortized over the life of the loan ... follow the interview screens carefully to enter them.
‎July 2, 2023
4:23 AM
17,025 Views