helow Posted April 1, 2009 Report Share Posted April 1, 2009 TP rented out one room (about 33.3%) of his condo. The basis for the condO is $284,560 (building only). When depreciating the building, shouldn't the depreciation be calculated on 94,844 (33.33 x 284,560). The program multiplied the whole basis of the condo which I think is not accurate. Thanks Helow. Quote Link to comment Share on other sites More sharing options...
helow Posted April 1, 2009 Author Report Share Posted April 1, 2009 TP rented out one room (about 33.3%) of his condo. The basis for the condO is $284,560 (building only). When depreciating the building, shouldn't the depreciation be calculated on 94,844 (33.33 x 284,560). The program multiplied the whole basis of the condo which I think is not accurate. Thanks Helow. No need to reply. I resolved the problem. Thanks Helow Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted April 2, 2009 Report Share Posted April 2, 2009 That just goes to show you how really great is this forum! We all help each other by just being here so that we can work through issues in many ways, for example, by typing and posting a problem. Voila! The answer is revealed. Sorry, Helow, just getting punchy. Quote Link to comment Share on other sites More sharing options...
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