Investors & landlords

I'll pass on whether this is technically correct and just post the procedure below.

 

First of all, you're not going to get TurboTax Business to compute depreciation for a 17.93-year recovery period. Rather, you will have to enter all of the figures yourself in Forms Mode.

 

After you enter each property in the interview, you can enter Forms Mode and bring up the Federal Asset Entry Worksheet. Change the Type of asset to "Z" and then enter your data.

 

You can then check your properties on Schedule E or Form 8825 (depending upon whether you're doing a 1041, 1065, or 1120-S).