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Is it required that I calculate depreciated value of my rental property every year and put it as rental expenses into Sch E?

 
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1 Reply
Carl
Level 15

Is it required that I calculate depreciated value of my rental property every year and put it as rental expenses into Sch E?

Yes, you are required by federal law to depreciate business assets that are used to produce income. This includes rental property. The only exception to that is if the asset/rental is used for less than a tax year to produce business income, and is actually sold or otherwise disposed of in that same tax year.

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