My experience:both tax year 2019 and 2021 after my return was accepted by the IRS, I later opened these 2 tax returns. In both cases the tax amount calculated b...
In both tax year 2019 and 2021 after my return was accepted by the IRS, I later opened these 2 tax reurns. In both cases the tax amount calculated by TT differe...
My understanding is that for a rental property, the added basis must be depreciated over the life of the improvement. If depreciation is not taken in any tax ye...
We rent out our condo. I thought that a special assessment needed be added to the unit's basis and depreciated over 27.5 years. I understand that it cannot be e...