Solved
Building Depreciation
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.
@wybergba wrote:
Even if there is no way the building will last another 39.5 years?
Yes, the GDS recovery period for nonresidential real property is 39 years.
See https://www.irs.gov/publications/p946#en_US_2019_publink1000107523
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