Skip to main content
March 7, 2023
Question

Method of depreciation for rental on 1041

  • March 7, 2023
  • 1 reply
  • 0 views

Hello,

 

I am doing depreciation on a rental owned by my in-laws Trust on the 1041. I was guessing the depreciation on a town house they purchased in 1972 based on 2021 and 2020 depreciation from their CPA (there is $1 difference). However, I selected 200% depreciation and I am not seeing a similar amount. Is there a way to know what depreciation method was used? Thank you for your time.

1 reply

AmyC
Employee
March 7, 2023

Take a look at the Form 4562.  The problem might lie in how much you are using for depreciation. Be sure your house and land values match up with the accountant. Generally, a rental home is straight line depreciation.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"