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Investors & landlords
The "improvement value" is the value of the improvements built on the land. Or the total value of your house minus the land value.
You are asked for the land value in the rental section of TurboTax. This is then separated from the total value you entered so that the improvements can be depreciated. Land can not be depreciated.
The depreciation value of your condo should not be $0. I would recheck the figures you entered when you put the condo in the Asset section. Typically, a condo has no land value, so you would put a $0 in that box.
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March 8, 2020
1:58 PM