- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
You will need to have an idea of how much you think you had on your tax return as a depreciable amount which is house minus land value. Then the house (not the land) would have been depreciated over 27.5 years.
The AMT depreciation would probably be the same as the regular unless you or your wife had more income than your military pay that pushed you into the Alternative Minimum Tax. Do you remember ever dealing with that? The purpose is to limit deductions.
At the end of the day, you can only do your best with what you have.
Awesome! @AmeliesUncle always has great helpful answers.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
May 7, 2021
7:09 PM
1,342 Views