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Deductions & credits
When providing information for a rental property purchased in 2017, TurboTax would not accept ‘no’ for an answer when offering the special assessment of 50% depreciation for 2017 and 50% for 2018. I was assured by a representative that despite having to choose that option, the property would still depreciate for 27 1/2 years. That didn’t make sense, but sounded good. Now this year (I filed for an extension for 2018 taxes and am working on them now), I don’t see that ‘second year promise’. I’m unable to speak to a representative about this – only automated responses are available to me on the phone. Has anyone experienced the same situation?
September 28, 2019
9:48 AM