 Income tax 2022-2023, depreciation of rental property, makers and special depreciation part number one. Let's do some wealth preservation with some tax preparation. Most of this information comes from publication 527 residential rental property including rental of vacation homes tax year 2022. You can find on the IRS website, irs.gov, irs.gov. Looking at the income tax formula, we're focused on line one income. Remember in the first half of the income tax formula is in essence an income statement, but just an outline of other forms and schedules flowing into these line items. One of those, the schedule E, it being in essence an income statement in and of itself with rental income minus rental expenses, the net rental income in essence flowing into line one income of our income tax formula.