socalpatrick5
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Thank you for that advice, I will try your suggestion to start with fresh depreciation details. Yes, nothing else will change if I ammend 2023 and Turbo Tax cal...
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Hello and thank you.Actually, since you only depreciate the structure and not the land, my basis is structure + closing costs. I calculated it will be lower by ...
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Thanks Diane for the super quick response. The home was available for rent before the rennovations but it did not get rented until 3 months after due to slow re...
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Thank you for the reply. I do not want passive losses from one property to offset potential passive gains on the other property. This way, if I sell one of the ...
Activity Feed for socalpatrick5
- Posted Alternative Minimum Tax Carryover (AMT) on Investors & landlords. February 28, 2025 3:54 PM
- Posted Re: How to correct the basis of a residential rental property on Get your taxes done using TurboTax. February 27, 2025 9:00 PM
- Posted Re: How to correct the basis of a residential rental property on Get your taxes done using TurboTax. February 27, 2025 2:35 PM
- Posted How to correct the basis of a residential rental property on Get your taxes done using TurboTax. February 27, 2025 11:04 AM
- Cheered Re: How to ensure my suspended losses for 2 rental properties are kept seperate by TurboTax? for KrisD15. February 24, 2025 10:27 AM
- Posted How to ensure my suspended losses for 2 rental properties are kept seperate by TurboTax? on Get your taxes done using TurboTax. February 20, 2025 10:46 PM
- Cheered Re: Where do I enter mortgage points for a rental home 2023 for DianeW777. April 14, 2024 7:58 PM
- Cheered Re: Where to enter rennovation expenses for rental property? for DianeW777. April 14, 2024 3:07 PM
- Posted Re: Where to enter rennovation expenses for rental property? on Investors & landlords. April 14, 2024 2:38 PM
- Cheered Re: Does Turbo Tax automatically use 2 Schedule E forms if you add a second rental property? for Critter-3. April 14, 2024 2:26 PM
- Posted Where to enter rennovation expenses for rental property? on Investors & landlords. April 14, 2024 2:23 PM
- Posted Where do I enter mortgage points for a rental home 2023 on Investors & landlords. April 13, 2024 11:31 PM
- Cheered Re: Does Turbo Tax automatically use 2 Schedule E forms if you add a second rental property? for DawnC. March 23, 2024 4:28 PM
- Posted Re: Does Turbo Tax automatically use 2 Schedule E forms if you add a second rental property? on Investors & landlords. March 22, 2024 9:37 PM
- Posted Does Turbo Tax automatically use 2 Schedule E forms if you add a second rental property? on Investors & landlords. March 22, 2024 6:33 PM