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Investors & landlords
You may have entered the cost of the house incorrectly when you set it up for depreciation. TurboTax will ask you for the cost of the house and then the cost of the land. You should include the cost of the land in the cost.
For instance, you buy a house for $200,000 and the land is worth $50,000. You would enter the cost as $200,000 and the land as $50,000.
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ā€ˇFebruary 3, 2021
12:55 PM