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Investors & landlords
@MD80 wrote:
If I let TT calculate depreciation from Nov/Dec, I am incurring loss in rental income which i cannot claim.
TurboTax is calculating your depreciation deduction based upon the mid-month convention, which is correct.
Your rental property is treated as if it were placed in service at the middle of November (11/15/2020) for the purposes of calculating the depreciation deduction.
May 16, 2021
6:50 AM
472 Views