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TurboTax automatically changed ADS from 40 years to 30 years on a rental put into service prior to 2017.
I have had a foreign rental property put into service prior to 2017 and always took the 40 year depreciation. While filing 2021 taxes I noticed that Turbotax automatically changed this from 40 to 30 years. Is this correct? Everything I have read (including some posts on the forum) indicate it is not allowed. Is there a mistake in how turbotax is treating the rental?
Is it possible to manually change it back to 40 years if this is a mistake?
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March 20, 2022
7:23 PM