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eric_d_flaim
April 15, 2025
Question

I input that I own 50% of a rental property. TurboTax calculates the depreciation and gives me 100% of it. Any ideas?

  • April 15, 2025
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    1 reply

    J
    JamesG1
    April 15, 2025

    As an example, you and your partner purchased the rental property for $400,000.  You own 50% of the investment or $200,000.

     

    You are allowed to depreciate 100% of the $200,000 cost basis in the rental property.

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    E
    eric_d_flaimAuthor
    April 15, 2025

    Am I suppose to reduce the value of the home by half so that it calculates the correct amount ?   Why wouldn’t TurboTax do that automatically?  I told it I own 50 percent of the property.  

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