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If I owned a property for only part of the year, and it was rented the entire time, is depreciation based on the portion of the year I owned it?

Forum|Forum|4 years ago
April 9, 2022
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TurboTax explicitly instructed me to say the property was rented 365 days, because it was rented the entire time I owned it. I owned it for only 90 days (1/4 year).

TurboTax Premier Online

Best answer by ColeenD3

Did you enter the date you purchased it? That information will override the 365-day entry.

ColeenD3Answer

Did you enter the date you purchased it? That information will override the 365-day entry.

B

bmaxwell55Author

Thanks, Coleen! You completely understood my confusion, and I think it's a minor flaw in the TurboTax design. Maybe they should insert a question before the "Number of days rented" for new owners to tell what date they started owning the property. My confusion is cleared!