Question
Rental property depreciation method and convention
We are using TurboTax Premier for our 2018 tax return after having used a tax account for the past 8 years. Prior to that we used TurboTax. We have a rental property in service since 1997 and used Straight-line depreciation. In all the prior years TurboTax and the tax accountant used SL / MM as the depreciation method and convention.
Turbo Tax now uses ALT / MM and reduces the depreciation amount by 1,250 from 3,500 to 2,250.
In the Asset Life History it still shows 3,500 for the entire life of the asset.
We cannot figure out why TurboTax reduced our depreciation amount and uses ALT instead SL.
How can we change this back to SL and make the depreciation amount match prior years and the asset life amount?
