Dear @Hal_Al - I saw your post about renting a room in our own residence. I think I followed all your steps (Zero own use, 100% business use, entry of square footage room vs entire house, etc.). But I noticed now that TTax generated a Form 4562 for this room rental that shows a very small "Cost (Net of Land)": It comes to 0.11% of the Cost Net of Land that we entered for our residence even though the square footage share of the room we rent out is equivalent to 28% of the residence.
Is that correct? Should the "Cost" even be pro-rated down on Form 4562. Or should that rather be done to arrive at the "depreciable base" (which I would expect to be 28% of the Cost?
Thank you for clarifying.
