Great, thank you @DianeW777
With those answered, my original question remains.
My question is where in TurboTax do I place the data I received from the Cost Segregation Study?
- Purchased in 2023, Study conducted in 2023, first time filing for this business
- The Cost segregation has the "total included in study is equal to purchase price less land value" as $262,058.35 (73%) (15-year accelerated depreciation)
Additionally, within in TurboTax now, in Schedule C, I have the home as an asset with a depreciation of $2,683 (39.5 years). Do I remove that or keep it once I place the accelerated appreciation in above)
- Cost = $375,000
- Land Cost = $16,300
Thanks,
Brian
