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Investors & landlords
It's quite obvious you do not understand how the program works.
In the COST box you enter the total of the cost you paid for the entire property, minus the depreciation already taken. In this case, that would be $54, 761
In the COST OF LAND box, you enter the value of the land. IN this case, that would be $51,260.
The program (NOT YOU) will "do the math" and the program (NOT YOU) will assign a cost basis of 3501 to the structure for depreciation over the next 27.5 years.
March 26, 2021
3:13 PM