My wife and I own a short-term rental business, each spending 100+ hours a year on it.
We figured out this needs to be created as a business in TurboTax Online, with the rental properties being added as assets.
However, when we add a real estate property to the business, it only allows us to select the nonresidential property type (with 39 years depreciation timeframe). Our rental properties are residential, however, and need to use the 27.5 year time frame. Is this a limitation with TurboTax Online and is only possible in TurboTax Desktop?
