Investors & landlords

TurboTax knows to remove the land portion once you enter the full cost of the convenience store and then the land portion of that cost.  If you allocated a total cost to the convenience store of $54,000 (Building $45,000 and land $9,000) enter the total cost of $54,000 and then enter the land of $9,000.  You know the exact numbers. 

Close estimate of depreciation for one full year on the building only: 

• $45,000 x .03636 = $1,636  (the fraction changes every so many years by a miniscule amount. 
• See the table below.

Question 1:

1. Confirmed.
2. Confirmed.  The difference is it must be tracked by excel or pen and paper.

@jamie-m-todd