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Investors & landlords
Carl, under "Tell Us More About This Rental Asset", "I purchased this asset new", "No, I have not always used this item 100% of the time for this business.", "I first used this item at least part of the time for this business, and also used it for personal purposes.", put in a date (12/1/18)........ I tried plugging in "0" % business use and TT doesn't allow "0" %; must be 1.00% or greater.
It did add all 4 items to Form 4562, increased my basis, etc. (Concrete siding was so expensive, that it did put in a $2 "current depreciation", even on a 27.5 year schedule.) So, it had the desired effect.
Still puzzled by the land improvement designation for the tree removal; why does TT put it on a 15 year depreciation as the IRS clearly states that land improvements cannot be depreciated - just added to the my land basis in the whole property.