Carl
Level 15

Home loans

"Depreciation Results says that ~$3,500 will be depreciated over the next 27 1/2 years."

Sounds to me like $3,500 is your first year depreciation based on a mid-month calculation. The amount being depreciated over 27.5 years is $260,000. That first year depreciation amount of $3,500 tells me that most likely, the property was placed in service in the last quarter of the 2017 tax year.