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rdpn
New Member

Depreciation residential real estate

I own 50% of a rental property.  I have entered that fact into TurboTax.  I entered all expenses gross, then TurboTax brings forward 50% of the expenses.  So far, so good.

But for depreciation, it brings forward 100% of the deprecation, if I'm calculating SL/MM ACRS correctly:
Total cost 158,260 less Land cost 23,742 is depreciable cost of 134,518.     134,518 divided by 27.5 years is 4,892 per year for deprecation.

I expected TurboTax to bring forward only 50% of 4,892.
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1 Reply
Anita01
New Member

Depreciation residential real estate

For depreciation purposes, you need to enter only the 50% of cost for which you paid..  Depreciation is not split like the rest of expenses.

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