Hi Carl/all,
I'll provide some context. I purchased this house in 1988 and I did not turn it into a rental until 2007. My Accountant documents the "Acquisition" date as 1/15/2007. The Cost basis for the building is $146,775. I have a capital improvement competed on 11/27/13 in the amount of $6,000. The cost basis for the land is $105,415.
It appears it has been depreciated over two different time periods. 27.5 years for the house and 20 years for the capital improvement.
For 2018, the house was depreciated $5,338 at a rate of .03637 and the capital improvement was depreciated $326 at a rate of .05439.
That brings me to a total of $5,664 for 2018 and a total prior depreciated amount of $60,134.
I cannot figure out how to enter this data in Turbo Tax and achieve the expected outcome of $5,664 for 2019.
Thank you for your help so far.
Cheers!
Jack
