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. -
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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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