Please be aware that if the rental is on a lot, the value of the land needs to be reported separately and land does not deprecate.
You can ask a real estate agent or look at your tax assessment to get a value of the land.
Remember also that when you eventually sell the property, you will allocate part of the selling proceeds to the land. Additionally, you most likely will have Depreciation Recapture, so keep track of the depreciation you claim over the years.
If you make improvements suck as a new roof or purchase new appliances, they will each be listed and depreciated separately.
@rfsmit
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