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House Depreciation vs. AMT Depreciation
I sold my rental house and have the depreciation that someone from the Live Turbo Tax team had me put in the depreciation section under where I listed my earnings for the house. There is a section that says AMT depreciation. The tax advisor told me to leave that blank and not enter a zero. When I did my review the AMT depreciation came up. I only rented the house for 6 years and the house was 11 years old. From what I can read AMT is not subject on that, is that true and do I ignore that part on the review?
March 4, 2022
2:24 PM