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Investors & landlords
You have to enter the 1/3 rental property first and complete it in it's entirety before you can even start the 2nd one. THis is because on the 2nd one, you have to reduce the cost basis of the structure (not the land) by the amount of depreciation taken already in the first entry. You can't get the total depreciation taken for the first 10 months, until you have completed that entry entirely.
‎April 4, 2022
3:31 PM