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Turbotax Not Calculating Rental Property Depreciation Cost Basis Correctly
Good morning, I hope someone can help me with this. My previous residence was converted to a fulltime rental June 1, 2024. When I input the land value from the year I bought it in 2019 ($61,872) , the next page shows an incorrect calculation of land cost basis $268,380 and building cost basis of $19,541. Can you help guide me where these numbers come from?
I have attached the steps taken and tried clearing my cache already.
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‎February 25, 2025
9:09 AM