Timeline for US IRS Form 4562 "basis"
Current License: CC BY-SA 4.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Nov 25 at 12:46 | comment | added | WGroleau | I specified (c), hence my hesitation on "adjusted down" | |
| Nov 25 at 12:45 | vote | accept | WGroleau | ||
| Nov 25 at 7:40 | comment | added | littleadv | No, you don't change it. There are several columns, basis is in column (c) - that never changes once set. The adjustments are recorded in column (g), which is what ends up being your depreciation expense and an adjustment to basis when you sell the property. | |
| Nov 25 at 6:48 | comment | added | WGroleau | So each year, we change the basis to the previous year's basis minus the previous year's depreciation? That's different from the way "basis" is done for capital gains. | |
| Nov 23 at 18:22 | history | answered | littleadv | CC BY-SA 4.0 |