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Investors & landlords
I have only ever used turbotax buz to do my taxes & to figure the straight line (27.5 yrs) depreciation on this rental house. Past years the amount was always the same (house divided by 27.5) but as I said the amount increased over $2000 this year, no changes whatsoever to value.
I have tried reading all the IRS information and found no new changes to the 27.5 years depr. based on purchase price of the house. Also, can't find any reasoning given by turbo tax. To protect myself I purchased the tax audit offered by turbo tax so just in case of audit maybe they can find an explanation.
Thanks for your help.
‎February 16, 2024
5:25 PM