Solved
How do I change the cost basis of my rental property? I previously owned 50% but now I own 100%.
I entered 100% ownership but the cost basis remains the same as before. The depreciation amount also remains at 50% which I am not able to change
I assume that you have acquired the remaining 50% of the rental property,
You would have to add another asset for the second 50% of the rental property.
This asset will have as cost basis your purchase price and will start depreciating from the date you put it in service.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
