I inherited a house (Built in 1910) last year from parents. My uncle is currently living in it and paying rent. I know how to claim expenses like insurance, taxes, repairs, and also the income I'm receiving but I cannot figure how to do depreciation on the property. I've read the pamphlet on the IRS website but only get confused. Is there a simple formula????How to figure depreciation on rental house?
straight line on value at I think 29.5 years on value
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