@frank1618 We can not see your return, this is a public forum. TT calculates depreciation correctly unless there were changes made to default depreciation. You can review your depreciation details in Forms Asset Wks (residential) and complete by year in Asset Life History. If you make any improvements you should be entering them as new assets, not adjusting the original home. The only changes would be in the first year, depending on when asset was place into service.
you would have to attach a copy of the asset depreciation history if you think there is an issue. None are known that I am aware of.
You do have the ability to change the depreciation method but, if you entered it as residential rental property class I it is 27.5 years
Generally, you must use the Modified Accelerated Cost Recovery System (MACRS) to depreciate residential rental property placed in service after 1986.
If you placed rental property in service before 1987, you are using one of the following methods.
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Accelerated Cost Recovery System (ACRS) for property placed in service after 1980 but before 1987.
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Straight line or declining balance method over the useful life of property placed in service before 1981.
**I don't work for TT. Just trying to help. All the best.
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**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
