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Berkeley-Taxpayer
Returning Member

How does TurboTax calculate depreciation on rental property?

I have rental property with a cost basis of 117,202 and land value of 34,500. On 8/1/17, I converted the rental property back to my primary residence. TurboTax calculates that my depreciation was $1,982. By my calculations, that's 7.9 months of depreciation. I think it should be either 6.5 or 7.5 months of depreciation using the mid-month convention.

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1 Reply
LindseyLO
Intuit Alumni

How does TurboTax calculate depreciation on rental property?

This link will give you all the answers on rental property

https://turbotax.intuit.com/tax-tips/rental-property/real-estate-tax-and-rental-property/L3e09vT71#d...

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