The costs entered did not include the land value. That is why I thought that the depreciation would not change, since the updated values would net ($100k in you...
I already filed my taxes for 2022. My question relates to a rental property I sold in 2023. I believe my computations in TT are correct thus far. My concern is ...
So, using your example, I am suggesting that I increase my property value to 100,000 and add 15,000 as the associated land value, resulting in my depreciable va...
I added the rental property in 2017 with a cost not including the land cost, so 85,000 in your example. As such my cost of the property does not include the cos...