Rental Property Depreciation Expense

[Brenda Lee]

My business partner and I bought a rental property and split everything 50/50.  She is using a tax accountant to file her taxes and I am using Turbo tax and I noticed there are differences with the way we are filing for depreciation (in service date used, property value).  I was just wondering what are the tax implications of that when we decide to sell the house, and if there are any other risks to that.

Thank you!

[Brenda Lee]

@Eddie L.We purchased the property as tenant in common and not as a partnership so we are filing the split 50/50 on our individual tax returns.

@Bryan Martin I am using the in-service date as the first date we were ready to show the rental 11/12/21 and it looks like her tax accountant used 12/01/21.  For the basis of depreciation I used our purchase price of the property minus the value of the land as listed on the last property tax assessment which is $30k off from what her tax accountant used as the depreciation basis.  Not sure if this matters when we decide to sell and need to pay back depreciation?

Thanks for the input!