Line 20-adjusted property basis... zero(0)"Not a response to you question, but your post causes me to ask how does a SFH ever have a zero basis?SFH sits on land, worth something (even 20+ years ago), and is not depreciated (as I understand the rules).Curiously, JAFO My understanding... the value of land is not included in the basis of rental property therefore not depreciated. For tax purposes, when fully depreciated, there is no property basis, that's not to say there is no value. In fact there will come a time when sold, capital gains tax will surely want the full value.I wish the county assessor would take this into consideration and recognize only the land value for RE tax purposes. :-)George
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