Is residential rental property depreciation subject to the AMT depreciation adjustment?
It depends on the year you placed the property in service. If you placed the property in service after 1998, you don’t have to make an Alternative Minimum Tax (AMT) depreciation adjustment on the home itself. However, AMT depreciation rates may apply if both of these are true:
- You separately depreciate items you used in a residential real estate activity, like:
- You use the 200% declining balance method.
To learn more, see the instructions for Form 6251.
You might not need to adjust depreciation. However, you might need to make a passive-activity adjustment. Make that adjustment on Form 6251.
If you need to complete a W-9 tax form, you may be asking what it’s used for and why it’s needed. We explain the purpose and use of an IRS W-9 form.
Learn more about your options to reduce or remove an IRS estimated tax penalty. Get the facts from the tax experts at H&R Block.
Donating a qualified vehicle to a charity? Learn how Form 1098-C is used to report the details of your donation and how it affects your deduction.
Do you need more time to file taxes? Review these time-sensitive tax pro tips to prepare for the tax filing extension deadline. Read more from our pros on the H&R Block blog.