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Depreciation on Rental

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    #1

    Depreciation on Rental

    A client has an apt house bought 5 yrs ago. First few yrs did not rent because the had repairs to the house before tenants were able to move in. No depr was taken. Had tenants in 2010 forward. Still no depr taken for 2010. I want to depr for 2011. What method of depr would be used? (residential rental MACRS 27.5 yrs?)
    Last edited by ruthc; 02-12-2012, 09:52 AM.
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    #2
    27.5 SL MACRS

    Amend last year's return to take the depreciation. Otherwise they will lose it unless they filed a Form 3115 sometime in the future.
    Michael

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