How does TurboTax determine my UBIA for Schedule B (Form 8995-A)? We have 2 rental properties. The UBIA was filled in automatically by TT, but one value seems wrong.

[mrsth3]

TT listed one property as Enterprise #1 with UBIA much lower than our original acquisition price. the 2nd property, listed by TT as Enterprise #2 lists an acquisition price much higher than #1 even though the purchase price was about $100K less. Is UBIA affected by the amount of depreciation already claimed? If so, why does UBIA include "basis immediately after acquisition" as part of UBIA? How is UBIA determined? Again, the values were automatically filled in by TT.

[DianeW777]

The UBIA is the unadjusted basis (of your assets)  immediately after acquisition of your assets (cost without taking into account depreciation).  Land is not be part of the figure.

• IRS FAQs -See UBIA

Double check your figures, TurboTax would automatically carry the asset information to your Form 8995.