Hi, I have a rental property and do depreciation. Does anyone know where I can find the initial numbers for purchase price, land/build etc when I started depreciation? Tx
Hi, I have a rental property and do depreciation. Does anyone know where I can find the initial numbers for purchase price, land/build etc when I started depreciation? Tx
like the closing statement (goes by other names) when you purchased the property. but this info should be on previous years returns. if you haven't been depreciating it during the rental period you have two options use form 3115 to correct the error and that's a do it yourself project or use a tax pro to prepare the form and make the proper adjustment to your return