What Do We Do If We Haven't Been Depreciating Rental Property?

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What Do We Do If We Haven’t Been Depreciating Rental Property?

By The BIDaWIZ Team on December 14th, 2012 at 7:00 am

Rental property must be depreciated as per the IRS rules. Unfortunately, many individuals with a vacation or second home don't report their rental property correctly for tax purposes. What once started as a vacation home that you'd rent to folks sparingly can quickly turn into a full blow rental. .

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