How do i enter depreciation? I was awarded the house in the divorce, apparently it hasn't been depreciated in (8?) years. I am re-doing 2019 taxes now
I just now received the 1098 for the mortgage for 2019 and 2018. How do I know what value to enter for depreciation?
02303
2 Replies
DoninGA
Level 15
Dec 31, 2020 8:51:56 AM
A personal residence that is not used as a rental or in a business cannot be depreciated.
Critter-3
Level 15
Dec 31, 2020 9:33:10 AM
If this HAS been a rental for 8 years and no depreciation has been taken RUN to a professional tax pro to get the 2020 return completed correctly and fix the error properly. This is not a DIY project.