Investors & landlords

When TaxAsker inputs depreciation data, with the 36 days it was rented and assuming it ended 8/31/2021, would they answer "Yes" or "No" to the question "Have you used this item 100% of the time for this business"

 

If it is answered as "No", TurboTax defaults to 9.86% business use for 2021 (36 days) and will then only calculate 1 month of depreciation on 9.86% of the cost basis.

 

If it is answered "Yes", TT will depreciate 100% of the cost basis for the 36 days it was rented (adjusted for MM convention), which appears more appropriate.

 

If there was personal use within the 36 days of rental, it seems like that is what this question would be intending to cover.

 

 

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