You guys are awesome! Am I reading the rules accurately....My residential house (without land) is valued at $256,000. So using straight line depreciation it should look like this for this tax year...I would take $256,000 divided by 27.5 which is $9,309 per year of depreciation. Then pro-rate that since my tenant moved in in July to 5.5 months of depreciation (5.5/12 times $9,309) which equals $4,266 on line 18 of my schedule E.
