Yes, you can enter the depreciation information manually to select a 10-year class life.
- First, choose Intangibles, Other Property, then Other Asset Types.
- On the Asset Class page, choose 10 year from the drop-down.
- Unless you have information to the contrary, choose 200% Double Declining Balance.
- Boats are Listed Property (check the blue link for more info).
- You may be able to claim Section 179 or Special (Bonus) Depreciation, depending on when you purchased the asset and its business use percentage.
- On the Asset Summary page, click "Show Details" to confirm depreciation was calculated as you expected.
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