mrichman333 Posted March 12, 2016 Report Share Posted March 12, 2016 Quick question. I have a TP with a rental property that she used 14 days and rented 90 days. 90/104= 86.5% the rate that expenses are divided. Do you also divided the depreciation also? Thanks Quote Link to comment Share on other sites More sharing options...
Yardley CPA Posted March 12, 2016 Report Share Posted March 12, 2016 Doesn't the Schedule E Input page allow you to indicate the number of Fair Rental Days, and Personal Days. Won't those entries then drive the percentages? I think if you input that information it will calculate the depreciation correctly. No? Quote Link to comment Share on other sites More sharing options...
mrichman333 Posted March 12, 2016 Author Report Share Posted March 12, 2016 2 hours ago, Yardley CPA said: Doesn't the Schedule E Input page allow you to indicate the number of Fair Rental Days, and Personal Days. Won't those entries then drive the percentages? I think if you input that information it will calculate the depreciation correctly. No? This is my first year doing the return and the property was placed in service in 2004. I have her depreciation schedule that goes to 2025 and was going to use it and adjust it based on percentage of rental use. Quote Link to comment Share on other sites More sharing options...
Yardley CPA Posted March 12, 2016 Report Share Posted March 12, 2016 mrichman...lets see if someone else can verify my statement. I thought that completing the input page the proper percentages would calculate. 1 Quote Link to comment Share on other sites More sharing options...
mrichman333 Posted March 12, 2016 Author Report Share Posted March 12, 2016 ZOOM, right over my head. I got it 1 Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted March 14, 2016 Report Share Posted March 14, 2016 Ah heck, don't be too hard on yourself. It is that time of year. 1 Quote Link to comment Share on other sites More sharing options...
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