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Investors & landlords
I was not able to import my 2015 return. I switched from online version to desktop CD and it doesn't seem to work for me. anyway, after looking back at my 15 return it does not appear that I used 25%. I used 5%. I am not sure why I went that low, but I think its because I wanted to keep a greater percentage of my mortgage interest and property taxes under my personal deductions.
All that is helpful and I will use the same percentage as last year, but it still doesn't help me figure out where to plug that 5% number in. One of the tier three tax experts told me to just reduce the value of the property in order to fix it as he couldn't find a way to plug it in either. Of course, he also indicated that I could deduct 50% of my utilities even if I only depreciated 5% which surprised me.
All that is helpful and I will use the same percentage as last year, but it still doesn't help me figure out where to plug that 5% number in. One of the tier three tax experts told me to just reduce the value of the property in order to fix it as he couldn't find a way to plug it in either. Of course, he also indicated that I could deduct 50% of my utilities even if I only depreciated 5% which surprised me.
‎June 4, 2019
7:59 PM