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FMW1
April 4, 2025
Question

For a rental property where Turbo tax asks for "residential", building/land cost, then Business % and prior deprec. Would we mark it 100% for business?

  • April 4, 2025
  • 1 reply
  • 0 views
when we add rental property there is a section where we add property details for depreciation. I just want to confirm if for business % we say 100% if the property is used for renting only.

    1 reply

    AmyC
    AmyC
    Employee
    April 4, 2025

    Yes, if it is all used for making money, it is 100% business use. If you live in one part, it is prorated. Land is not depreciated, only the building.

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