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Rental property depreciation
We purchased our AZ rental in 2004. The purchase price was $174,900. The cost basis calculated in Turbo tax is $141,273. My calculator says that this cost basis generates a depreciation amount of $5137 per year (141,273 X 3.63636%). However, Turbo tax has calculated $3853. Can you clear this for me and help me understand the difference? Thank you.
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‎April 11, 2020
6:25 PM