- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
This is what my accountant wrote to me (he had been doing my taxes for years).
"Your rental was set up with a 31.5 year straight-line recovery period using the mid-month MACRS method. Your software should have these options. 2019 is year 30, and the depreciation expense for 2019 should be $1541 (48,532/31.5). Depreciation deducted in prior years (1990-2018) was $44,103."
However, I can't find out how to do that in TurboTax. I have ALWAYS had it rented. I have never used it personally -- bought it for rental.
‎June 8, 2020
11:27 AM