Depreciation of rental property, can I depreciate the property?
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Of course, rental property gets depreciated.
Are you a tax professional?
Not only 'can' you, you have to.
Research (or do some CPE... IF you are a tax pro) on *allowed vs allowable*
One word - holy crap. Ok, I lied that was two words, but I got so confused after reading that question.
I hope you ended here by mistake.
Yes, the property must be depreciated if used as a proper rental.
you take depreciation on buildings and improvements. You do not take depreciation on land. You'll find asset classifications and asset life in the help files.
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