ebluh
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@MonikaK1, thanks! I figured it out that the tax basis is 28%.
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@PatriciaV, all of that makes sense! This is very helpful. I appreciate your time.When we adjust line 4: (Purchase Price - Cost of Old Roof) do we need to adjus...
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Hi@PatriciaV,Thank you for your detailed answer. ForLine 10 - Prior Depreciation, andLine 12 - AMT prior depreciationwhat would those numbers be in your example...
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Hi,This might be an old thread but you were the only one that explained it in great detail. Can you explain “then you use TurboTax to sell/dispose the old roof ...
Activity Feed for ebluh
- Posted Re: Rental Property Depreciation Question - What is cost and cost of land? on Investors & landlords. March 25, 2023 6:54 PM
- Posted Re: How to depreciate new roof in turbotax?can you please provide step by step instruction? on Get your taxes done using TurboTax. March 25, 2023 6:41 PM
- Posted Rental Property Depreciation Question - What is cost and cost of land? on Investors & landlords. March 25, 2023 4:01 PM
- Posted Re: How to depreciate new roof in turbotax?can you please provide step by step instruction? on Get your taxes done using TurboTax. March 22, 2023 7:10 PM
- Posted Re: How to depreciate new roof in turbotax?can you please provide step by step instruction? on Get your taxes done using TurboTax. March 12, 2023 9:40 AM