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Depreciation calculation not correct for rental portion of property
So, I have managed to do the manual calculations for the expenses of my rental portion of my property based on the days used for rent and the percentage of sq/ft of the home. However, the value for the depreciation amount seems too high. The problem is, TurboTax will not let me enter depreciation as a percentage of overall property. It asks for the cost basis info and then how many days used for rental, etc. but how can I adjust it for the percentage it is of the overall home? Frustrated and hoping someone can point me in the right direction.
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‎April 13, 2022
8:31 AM