Rental house depreciation

[gc2]

My rental house is currently valued at less than it was when I entered it as a rental last year.  Where do I enter this?  It's a loss for me as I still owe more than it's worth due to the continued depreciation and can't sell it

[view2 · Accepted solution]

Current market value does not effect you current adjusted cost basis that you are depreciating.

That value is reflected when you sell at a loss.