Building Depreciation

[wybergba]

Our company purchased a commercial building that was 40 years old. Turbo tax automatically calculated the useful life as 39.5 years. How can I change this to 20 years? Thank you.

[DoninGA]

The actual age of the building is not relevant when starting depreciation.  It starts when the building is placed into service by you.  From the time it was placed into service the depreciation is for the next 39.5 years.

[wybergba]

Even if there is no way the building will last another 39.5 years?

[Anonymous_ · Accepted solution]

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@wybergba wrote:

Even if there is no way the building will last another 39.5 years?

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Yes, the GDS recovery period for nonresidential real property is 39 years.

See https://www.irs.gov/publications/p946#en_US_2019_publink1000107523