depreciation value=
(Price you bought your house- value of land)/27.5
for example: you bought your house $ 200K. the value of land is $50K
depreciation value=(200K-50K) / 27.5=$5454.55
every year you can deduct $5454.55 from your rent's profit when you full your tax return.
But when you sell your house, you have to pay back all your deduction in past years.
(Price you bought your house- value of land)/27.5
for example: you bought your house $ 200K. the value of land is $50K
depreciation value=(200K-50K) / 27.5=$5454.55
every year you can deduct $5454.55 from your rent's profit when you full your tax return.
But when you sell your house, you have to pay back all your deduction in past years.
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