Schedule E
Schedule E questions! Hi everyone! I have a condo I bought in 2016 and started renting at the end of 2021. For the depreciation part on the schedule E, is my understanding correct that I would divide by 27.5 based on my building value from the 2016 assessment?( since the assessment is higher now) As an example if my building assessment in 2016 was 44,300 Would this equate to $1610.9 depreciation for 27.5 years? Or am I understanding wrong. Thank you!
This Question Has Not Yet Been Answered.
