I have a a business which owns a single family house and rents it for short term rentals. I would like to add depreciation deduction for my property(owned by business)
I am using turbo tax home and business, when I select real estate option under asset deductions, it gives three options:
non residential real estate
qualified improvement
specific qualified improvement
technically, none of the options is a fit. Closest option is non residential which would depreciate the property on 39 years vs 27.5.
what is the correct way of adding this deduction?
