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how do I change the asset life of prior purchased asset to 150DB20?

Turbo Tax want to use 5 year or 27.5 year life. Needs to be 20 year life. How to input correctly?
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how do I change the asset life of prior purchased asset to 150DB20?

Is this a farm?

 

Any chance it gives you the category for "farm buildings"?

 

If that isn't on there, you may need to select that it is an "other" asset, then "other" again.  Then you would manually enter the information, including 150%DB and the 20 year Recovery Period.

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4 Replies
DaveF1006
Expert Alumni

how do I change the asset life of prior purchased asset to 150DB20?

To clarify, what type of asset is it?

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how do I change the asset life of prior purchased asset to 150DB20?

Barn doors installed in 2013.  CPA said then 150DB20 was correct depreciation method. Assume is building improvement.  Remember didn't like the 20 year depreciation method.  Thanks. 

how do I change the asset life of prior purchased asset to 150DB20?

Is this a farm?

 

Any chance it gives you the category for "farm buildings"?

 

If that isn't on there, you may need to select that it is an "other" asset, then "other" again.  Then you would manually enter the information, including 150%DB and the 20 year Recovery Period.

how do I change the asset life of prior purchased asset to 150DB20?

By experimenting with the different classifications before receiving your suggestion, I found the Other Asset category offered the most options which satisfied my needs.  Thanks for the assistance.

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