I purchased a new AC system for my rental. I know it needs to be capitalized and depreciated. I am at the Asset/Depreciation part in Turbo Tax. There is no option for AC system. I can click 'other' but it asks questions that don't really seem to apply like "have you used this item 100% for this business..' To me, it's a rental, not a business.
Then it asks for depreciation method...(straight line or ADS). Not sure what i should choose. Then it asks if i want to depreciate over time or deduct the full value this year. To me deducting the full value makes sense since i have a tax liability. Am I even in the correct area? Thank you for your assistance!
