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Investors & landlords
I am using 108,000 as the cost basis for the house. The 3.636% puts my depreciation at 3,927, just below what TT calculated last year which was 3,984. When I put the same numbers in property of 108,000 land 27,000 and last year's depreciation,
There's a problem I see right there. *YOU* do not enter the property value. The program will figure that for you. In the COST box, you should be entering the total cost, which with your numbers would be $135,000 in the cost box, and $27,000 in the COST OF LAND box.
The program *not you*, will do the math to get the structure value for depreciation.
March 2, 2022
6:47 AM