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Investors & landlords
I had the same problem, these instructions corrected it. Land improvements and real estate property is not the same as a rental property appliance, so there would be no reason to select that without these supplemental instructions.
The prompts are very misleading. Following the prompts for "rental property appliances, carpet, furnishings" (listed as an example under the "Tools, Machinery, Equipment, Furniture" selection) resulted in a 7 year (vs 5 year) depreciation for my rental property appliance.
TurboTax should fix the prompts.
The prompts are very misleading. Following the prompts for "rental property appliances, carpet, furnishings" (listed as an example under the "Tools, Machinery, Equipment, Furniture" selection) resulted in a 7 year (vs 5 year) depreciation for my rental property appliance.
TurboTax should fix the prompts.
‎June 7, 2019
2:56 PM