bought value 355k (bought 7/1/2003), land value 100k. Turn to rental property 2018. I enter purachse value 355k. The house over 15years increase about 100k, Market value 450k or plus. The land value 100k. Then I checked TT scheddule E, it only use purachased price to do depreciation.
It is only suppose to use the lessor of the purchase price or the fair market value when it became a rental.
Make sure that you have the property as 100% business from converted to a rental, as this might be why no deprciaiton is showing up. So 0 days personal and all 100% business.