I have $223,466 in depreciable value, which results in $8,126 of annual depreciation based on a 27.5-year schedule. In 2024, I lived in the home for 158 days, it was vacant for 50 days, and it was rented for 158 days. Based on this, I expected a depreciation deduction of $4,063, calculated as $8,126 × (158 days rented / (158 days rented + 158 days used personally)). However, TurboTax is showing a deduction of $1,862 instead. How is TurboTax determining depreciation in this case?
