sunnyside8989
Returning Member

Adjust depreciation method and number - Cost segregation study

I recently conducted a cost segregation study in 2024 for a property I purchased in 2022. For the first two years of tax filings, I used the straight-line depreciation method. With this new cost segregation study, I need to change my accounting method for depreciation and adjust the new depreciation for the 2024 tax year. Given that I have already recorded prior straight-line depreciation in TurboTax, where can I make this adjustment and change my accounting method? Last year depreciation I used form 4562 in schedule E, where can I file new depreciation method to reflect cost segregation study number in 2024 tax year