rental expense depreciation deduction not calculating properly showing $824. i calculating $2,824.55. rented 25% of the year * depreciable amount of $309,012 / 27.5

ivetteuribe18 · ‎February 27, 2025

JamesG1 · ‎February 27, 2025

What the date purchased or date placed into service a date prior to 2024?

Assuming no cost of land involved, TurboTax Premium Online computed 2024 depreciation deduction of $2,809.

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ivetteuribe18 · ‎February 27, 2025

Hello!

We purchased the home 08/16/2019 and started renting it 10/01/2024

JamesG1 · ‎February 27, 2025

The previous numbers reflected a date placed into service prior to 2024. The screenshot below reflects the depreciation method used.

Assuming no cost of land and the dates provided, TurboTax Premium Online computed 2024 depreciation deduction of $585.

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