Yes, I agree a replumb is 27.5 year property, not 5 years. You can categorize it as "Residential Rental Real Estate."
Here are the full instructions for how to report this in TurboTax Online:
- Navigate to Federal > Wages & Income > Rental Properties and Royalties (Sch E)
- Edit the rental using the pencil icon
- Navigate to Assets, choose Improvements, furnishings, and other assets, choose pencil icon to edit and skip to #6; or, if Improvements, furnishings, and other assets is not an option, select Add expense or asset
- Choose Improvements, furnishings, and other assets and continue
- Improvements, furnishings, and other assets will appear in your list of assets, choose to start
- Continue through the interview and answer yes to Did you make any improvements in 2024?
- Continue until you see Your Property Assets and "Add an Asset"
- You can describe the asset as Rental Real Estate Property. Categorize it as Residential Rental Real Estate, and answer the remaining questions.
