How to Reflect 80% Accelerated Depreciation Rental Property

[omosegzy1]

Hello There, 

Please how do I enter the 80% bonus depreciation in Turbotax for a property that I placed in service in 2023? I have my cost segregation study, and I need to reflect the 80% rate for 2023.

[Critter-3]

You simply enter all the assets listed on the study individually and those that qualify for the accelerated depreciation will be done automatically by the program.  

[omosegzy1]

Thanks! So just to make sure I fully understand - I don't need to adjust the details of the study by myself, the system will calculate it automatically?

Also, what area of TT do I enter the information in?

[Critter-3]

As you complete the Rental section just follow the screens ... you will eventually see where you can enter assets.  Go slow and read every word on every screen so you don't miss something.  There are a lot of links for more info so feel free to click on them often.