I transferred a rental property to LLC as of 1/1/2024. I followed the instructions on this forum to select "sold", and purchase price equal to NBV so there is no gain. However, it is showing a depreciation deduction for 2024 on Form 4797. It also has an AMT depreciation deduction. Should I override these amounts since the impact of transfer to 100% owned LLC should be zero? Thanks in advance!
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