kjm
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I figured out what I was doing wrong. Instead of entering the amount I paid for the house, I was entering the improvement value of the house.
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AmandaR, I am not trying the depreciate the land. When I bought the house, the improvements were valued at about $40K and the land was valued at about $360K, an...
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I file a Schedule C on my 1040 return.Thanks for the quick response.
Activity Feed for kjm
- Posted I figured out what I was doing wrong. Instead of entering... on Deductions & credits. June 6, 2019 5:58 AM
- Posted AmandaR, I am not trying the depreciate the land. When I... on Deductions & credits. June 6, 2019 5:58 AM
- Posted I bought a house, land was worth more than the house, based on county appraisal district. TurboTax is giving me an error and not allowing any depreciation. on Deductions & credits. June 6, 2019 5:58 AM
- Posted I file a Schedule C on my 1040 return. Thanks for the qu... on Business & farm. May 31, 2019 5:52 PM
- Posted Can I withdraw equity from my single-member LLC without it being income? on Business & farm. May 31, 2019 5:52 PM