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Investors & landlords
Thank you for your reply.
Turbotax will not allow me to file a SCH E if the rental days are listed as less than 15. I tried making all the entries for income and expenses 0 or blank, but that did not allow the filing. It seems that I will have to delete the schedule.
Could you please clarify your statement that the depreciation continues even if you are not able to claim it. It seems like the 'Master's exception' means that the unit effectively was not rented, hence no depreciation happens for that year. Help me understand or if you can point to where the IRS explains it.
Thanks for your help.
‎April 8, 2024
9:39 AM