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We put a house into rental after owning for two years. We frankly got a great deal on the property and made some capital improvements, like a new roof and refinished floors. DH is doing taxes and Turbo Tax seems to be wanting us to use the purchase price for depreciation, not the value of the property when put in service. Considering the significant appreciation and improvements done, this seems insane to me. (Our property taxes went up 30% in those two years.)

How do we approach this?

IP,
cross posted on tax strategies board
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