I am stupped on this. It is the 2nd situation I have had with prior TP not taking depreciation on residential rental property. Can anyone think of any reason before I start doing it this year and amending prior year?
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Last edited by ruthc; 02-13-2012, 10:16 AM. -
We need more info to help.You have the right to remain silent. Anything you say will be misquoted, then used against you. -
Yep, for instance, does taxpayer/client actually own the property?Originally posted by WhiteOleander View Post
Can't just always assume that you know.ChEAr$,
Harlan Lunsford, EA n LAComment
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More Info
Client has apartment house (rental 2/3) she lives in. Had house since 2003 and never had depreciation taken on it (prior TP). Normal situation - just a regular apt house she lives in. Improvements have been depreciated each year. For some reason the prior preparer even noted she wasn't using depr on the house on her worksheet. TP doesn't know why either. I want to start taking it, but am leary not knowing why.Comment
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Taxpayer Does Own Property
Yes, the taxpayer does own the property. I have the settlement papers, etc.Last edited by ruthc; 02-13-2012, 07:07 PM.Comment
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