$28000 minus the land value will be your depreciable basis.
Any DIY tax program will compute the depreciation automatically ... rentals are SL MM 27.5 year property ... educate yourself here :
Publication 946 … Depreciation
https://www.irs.gov/pub/irs-pdf/p946.pdf
For the EIC ... it is NET income from the rental... so after expenses.
https://www.irs.gov/pub/irs-pdf/p5334.pdf
