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Thank you! This helps a lot. I have about 50% as my calculation too.I have to ask however.. the formula of:total purchase price of the unit minus land value = b...
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Thank you for the reply Rick.the assessments definitely do not represent the fair market value. The assessment cards are very understated..the card I received s...
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I have found this thread saying:No, Form 3115 can't be used.I know somebody that called the IRS lawyer that wrote the rules about 'catching up' on the depreciat...
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I’ve read so many conflicting pieces of information. Saying that 3115 form is not an option. Only it’s a option if property was not depreciated at all.Another o...
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That’s correct, I used to live in it first, then it became a rental after I moved out
