I purchased a tri-plex in 2016 for 150,800 and made a down payment of 13,000 towards the purchase for a seller financed loan amount of 137,800. Where do I enter the 13,000 down payment to receive a deduction?
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The total purchase cost [separate land value,land is not depreciated] is entered as of the placed in service date and depreciated over 27.5 year.
You get the deduction ,however it is spread over a 27.5 year recovery time.
The total purchase cost [separate land value,land is not depreciated] is entered as of the placed in service date and depreciated over 27.5 year.
You get the deduction ,however it is spread over a 27.5 year recovery time.
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