Calculating depreciation on rental real estate
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Please help me to depreciate a house purchased on March 1, 2005 for $115,000 ($15,000 was for the value of the land). De to the depressed housing market, the value of the house and land had not changed when it was available to rent on September 1, 2007.
I need the amount of depreciation for 2012. Please attached any form or worksheet needed.
Thank you.
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Solution Summary
This solution explains how to calculate depreciation for rental real estate that was placed in service in 2005.
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Real estate is depreciated as rental real estate, also called real property. Real estate and rental real estate are both depreciated on a straight-line basis. There is no special allowance or accelerated depreciation allowed for real property. Again, real property is classified as real estate, which includes rental real estate. Therefore, the amount of depreciation would not change from year-to-year. Real property is depreciated ...
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