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Investors & landlords
you shouldn't have to enter depreciation because Tubotax automatically calculates it from the asset information entered. How IRS PUB 946 doe have this info
https://www.irs.gov/forms-pubs/about-publication-946
residential property 27.5 year life table A-6 page 71
if you have not taken the correct depreciation every year it was a rental, see a tax pro. if you don't correct the issue you may end up paying more overall in taxes when you sell.
‎July 3, 2024
8:22 PM