- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
The date placed in service, the method to calculate the depreciation, the life span and dollar amount used are all needed to get the right value. Once you input all of the items the same, the values should match. As someone with over 30 years of experience, I have had to move parts and pieces of the equation a little bit with multiple softwires over the years to get the numbers to match (or come near) the prior. As long as you have your records and can show you are just continuing where you started, there isn't an issue. If you suddenly change the life span or method used, then you have a problem. If you are close, so that your tax liability has less than $25 impact, don't worry about it.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 9, 2024
11:37 AM