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Returning Member
posted Jun 3, 2019 1:14:10 PM

Can co-owners of rental property select different depreciation methods for new items placed in service?

I am a 50% owner in rental property.  This year we replaced the carpeting.  The other owner (no longer my spouse) already filed their tax return and elected to depreciate over 7 years.  Per TurboTax and the IRS publications, carpeting can be depreciated over 5 years or elected under Section 179.  Can I use the correct 5 years or elect Section 179 if the other 50% owner did not?

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1 Best answer
Expert Alumni
Jun 3, 2019 1:14:13 PM

Yes, you can depreciate over five years or take the Section 179 deduction. 

1 Replies
Expert Alumni
Jun 3, 2019 1:14:13 PM

Yes, you can depreciate over five years or take the Section 179 deduction.