@DianeW777 Thanks for your quick response.
I have some follow-up questions: I financed my original purchase. I believe the finance cost (like closing cost) should be included in the cost of the rental property. When I first converted the property from primary to rental, I had refinanced as well. So the closing cost for the refi would be included in the cost. I've since refinanced again after the property was converted back to primary residence. Should the closing cost for the latest refinance be included in the cost again?
Also, since this is the 2nd time it's becoming a rental property, when Turbo tax calculate depreciation, would it take it into account the previous depreciation schedule or start as if this is the first time the property is a rental? If it's the former, how does it do it? Do I have to enter something?
Regarding tracking the depreciation, where do I get that information? I've used Turbo Tax for many years, and when I download the final tax filing PDF, I don't see the actual depreciation amount.
