@jjUpOnHill wrote:
Hi, for some reason my bonus depreciation isn't showing up. I did a test scenario, it's still not showing up.
I then entered all of the improvements I did into TT to get bonus depreciation at 80% for 2023.
It still should "show up" on Schedule E, even if the program limits the loss.
Are you sure the "improvements" qualify for Bonus? Many improvements would not qualify.
Do you "Materially Participate" in the rental activity?
At any rate, the main problem is that it seems that TurboTax is not set up for non-passive, short term rentals. *IF* you Materially Participate in the short term rental, it should be non-passive. I'm not aware of any work-around if you are using the online version of TurboTax. But if you are using the CD/downloaded version, you can to into "Forms" mode. Then you access the "Schedule E Wks" and then check the box for "Other passive exceptions".
