No wonder they call you the Champ!
I went back and verified Table A-6 and it confirms the 2.567% factor directly - no need to calculate it. I imputed the factor from what Turbotax showed as the depreciation amount compared to the basis and this just further confirms TurboTax is correct.
And so I think basically you are saying that this year when I calculate 2022 depreciation, it will consider what looked to me like excess depreciation in 2021 by reducing my basis - basically self correcting as we go. If I’m misunderstanding, please let me know because this also looks too easy!😀
Can you also please comment on the 51% business use input on line 6, where I added the 33 days the condo was vacant to the 153 days it was leased? I did not use this for allocating expenses between personal / rental on Schedule E, but Pub 527 says that ordinary and necessary expenses including depreciation can be deducted when the property is vacant and I assume this is the way to reflect that for depreciation.
I don’t see a way to do this for interest, taxes, and HOA costs.
Thanks again for you prompt spent-on comment!
