Coleen3
Intuit Alumni

Investors & landlords

Rental property in the US is depreciated over 27.5 year. Non-residential real property such as an office building is depreciated over 39 years. Unless your property is outside the US, your accountant entered the information in the wrong place.

Even if it is foreign property, the ADS depreciation is 40 years, not 39. If you have not had the property in service for too long, the easiest solution is to amend. If you were to indicate that it was non-residential real to get it to match, you are not accurately filing your return. In addition, you are not getting your proper depreciation amount.

Residential rental property 27.5 years  
Nonresidential real property 39 years

One solution is to elect an accounting method change and file a Form 3115 in the current year and take the  prior depreciation as a section 481(a) adjustment. [land  value is separated, land is not depreciated]

Below are the IRS links related to the change in accounting method. TurboTax does not have that form.

May be these will help

Form 3115, Application for Change in Accounting Method

http://www.irs.gov/uac/Form-3115,-Application-for-Change-in-Accounting-Method

Instructions for Form 3115 (03/2012) 

http://www.irs.gov/instructions/i3115/index.html

Form 3115,

http://www.irs.gov/file_source/pub/irs-pdf/f3115.pdf