I replaced the HVAC at my rental in 2024. I had no problem adding this as a new "residential rental real estate" line item to be depreciated over 27.5 years. However, I'm having trouble figuring out how to dispose of the original HVAC for tax purposes.
Why? Because the original rental put into service over a decade ago includes a guestimate of the used HVAC as one combined line item (building + HVAC). My old accountant assumed a used HVAC price of $2k.
Do I need to fix this original entry in my TurboTax software first to break out the used HVAC cost currently being depreciated over 27.5 years before I can dispose of it in the software? If so, what is the easiest way to do this in TurboTax at this point?
