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oliverernie369
Returning Member

I had to correct the "placed in service" date on a rental property. When I adjusted the date, the currrent depr shown on the depr repoort is 5X what was expected.

 
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KrisD
Intuit Alumni

I had to correct the "placed in service" date on a rental property. When I adjusted the date, the currrent depr shown on the depr repoort is 5X what was expected.

Real estate property is depreciated over 27.5 years and Mid month. So depending on how you made the adjustment, id how the depreciation would change.

Divide the basis (cost of building without the land) by 27.5, there's your yearly depreciation. Now divide that by 12, that's the monthly depreciation. 

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