Yes that all sounds right. I am working off the step by step guide but that is populating the schedule e form.
Last tax year I owned the property as a rental for about 6 months and turbo tax shows that 2022 season depreciation at +/_ $1600. For this 2023, I have owned the property for 1.5 years. It's computing around $3000 in the step by step guide but when I click done it just shows 0 like something went wrong.
Let me ask you this. Essentially the numbers you said were correct. Purchase price $112000, house around $82500, Land around $29500. If I was not having an issue Does this breakdown for depreciation seem like I am trying to depreciate it correctly?
I am going to look into the actual schedule e form tonight.
