Thanks for helping me! I Googled some website that had a calculator to give me my depreciation. I would do it myself, but what is the formula? All I see is “calculate your depreciation”, but nowhere on the internet I can find the formula!
- Got the house in 2010 for $120,000
- Moved out in 2014 and turned it into non-homestead/rental
- Sold in 2019 for 105,000
Where I entered it in Turbotax:
Under Federal > Wages & Income > Your income there is a
Sale of Home (gain or loss) - filled that out and it’s telling me: "Personal losses are not deductible"
PS. I've never used Turbotax before.
