165687
I'm still having problems getting the proper depreciation for my mother's house she is renting out. Calculating rental depreciation manually, I get the same result as Premier. Basis $136,854, Land $31,322, Percent Use for this 1st Year = 87.5%, Depreciation $3358 per year (lower the 1st year). However, I left off $2315 in Improvements added before it was rented. When I try to add them in the program, Premier deletes the previous numbers and recalculates the Depreciation to only $300 per year. It appears that it has something to do with "Allocation between Land and Improvements" on the New Rental Worksheet. The Depreciation Worksheet now recalculates the Cost as $9419 and Land as $127,435 with Depreciation Basis as $9419. I can manually change the numbers, but it doesn't give me much confidence to do that when the program gives me such a different number. I am frustrated that there are no help links that explain the allocations and why the numbers changed. Can anyone give me some help? I'm sure I must be doing something wrong, but can't find what it is.
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Stop trying to add the improvements to the home ...instead make a separate asset entry for them.
Stop trying to add the improvements to the home ...instead make a separate asset entry for them.
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