Suggestions

:speech_balloon:

Rental property depreciation based on actual year placed in service

If I’ve owned a rental property for many years already when I start my PL plan, enable me to specify the past year that it was placed in service and take this into account when computing depreciation and cost basis upon sale.

6 votes

Tagged as Suggestion

Suggested 22 February 2023 by user Chris Miller

  • Sign in to comment and vote. Sign in by email

  • 22 February 2023 Chris Miller suggested this task

  • 22 February 2023 Kyle Nolan approved this task

  • avatar
    Gary Kline

    This is important because the depreciation is over 27.5 years so we need to be able to specify when it starts (or ends) to get accurate projections.

    21 January
  • avatar
    Jason A

    As Shawn suggested I’m using current value for depreciation in actual value and will need to manually update until I get to year 27. The feature will remove the need for periodic manual intervention.

    28 February
  • avatar
    kJkjU9LQ47wANaQNCVrPVq8p

    I like this - means I wouldn’t need the tax-exempt income item I’m using now for depreciation.

    Thursday