clparrish93
Returning Member

Investors & landlords

You are exactly right. You can also deduct up to 25k of passive business loses against W2 income.

 

I am in the same exact situation where across multiple properties my business use is > 50%, but for each individual property it calculates as < 50%.

 

Even when doing the standard mileage method, Turbotax requires you to input redundant information for every single property. Then when you sale the vehicles it fails to properly capture the mechanics of depreciation recapture. Each individual year has a depreciation portion and it changes by $0.01 to $0.02 yearly.

 

The actual expense method in Turbotax is even more confusing like you said. It removes the option for bonus depreciation and section 179 expensing if you do each property individually even though the aggregate is > 50%.