Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 6, 2024 5:33:37 PM

What asset type should be used in "Asset" worksheet under Schedule C when trying to claim bonus depreciation for an active transient accommodation unit purchase?

TT claims that SDA bonus depreciation cannot be claimed for type of property but not clear what to enter for a (legitimate) case of a short-term rental property purchased, upgraded and placed in service during tax year.

0 2 17817
2 Replies
Level 15
Oct 6, 2024 7:09:12 PM

Level 15
Oct 6, 2024 7:09:58 PM

If you're reporting this on Schedule C, it would be classified as nonresidential real estate.