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tda2450
Returning Member

Depreciation on rental property in year of death

I'm starting a 2015 year individual for my widower father-in-law who passed away mid-year. I went through the interview questions and his date of death was accurately registered in the return but for some reason the depreciation on schedule E for his rental property is still showing a full year's amount. Isn't this supposed to be pro-rated through the date of his death? Why isn't the software making the correct calculation? I can override the amount but then get an error message that I've overridden an important line item and it might foul up my e-filing. Help!?
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1 Best answer

Accepted Solutions
view2
New Member

Depreciation on rental property in year of death

You have to stop the depreciation on the residential rental property.

At the property asset summary screen for your property; click edit  to the right of asset 

'Tell Us About This Rental Asset' [two screen for this information] You will review certain prior data

Then on the next screen after those entries continue

mark you sold

"This item was sold,retired,stolen ,destroyed,disposed of,converted to personal use,traded in ,or given away (or it is no longer used in this business for some other reason)

Then enter date /retired from use.[the date of death is entered to stop the depreciation]

continue on out 

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1 Reply
view2
New Member

Depreciation on rental property in year of death

You have to stop the depreciation on the residential rental property.

At the property asset summary screen for your property; click edit  to the right of asset 

'Tell Us About This Rental Asset' [two screen for this information] You will review certain prior data

Then on the next screen after those entries continue

mark you sold

"This item was sold,retired,stolen ,destroyed,disposed of,converted to personal use,traded in ,or given away (or it is no longer used in this business for some other reason)

Then enter date /retired from use.[the date of death is entered to stop the depreciation]

continue on out 

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