jgcpa
Level 4
08-10-2021
05:40 PM
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Is there depreciation on rental property bought and sold in same year? Proseries does calculate the depreciation. UltraTax does not. Drake creates an error message for depreciation in same year. Pub 527 says no depreciation if property bought and sold in same year. Pub 527 is titled Residential rental property. Please clarify- is there depreciation ? ( please disregard software, and reply based on code, or regulations)
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