JamesG1
Expert Alumni

Investors & landlords

I presume that you did not use a TurboTax product for your 2023 income tax return but you are using TurboTax for 2024.

 

If this is correct, you want to review how the assets were entered into the rental activity on Schedule E Supplemental Income and Loss.

 

In TurboTax Premium Online, how the asset is identified at the screen Describe This Asset and the screen Tell Us a Little More About Your Rental Asset likely determined whether the asset was reported as 27.5 year or 5 year.

 

Since you entered the asset in the current year's income tax return, you are able to go back and review the original entries.  You should be able to mirror the selection that your accountant made in 2023.

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