3180598
Turbo tax is depreciating a rental roof over 39 years instead of 27.5. Why is that, and how do I change it? It is in the program as a residential asset not commercial.
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Choose Residential real estate since that will give you a 27.5-year recovery period.
Where are you entering the information in the program? Also, what type of return are you preparing?
If you are using the Rental Real Estate tab, make sure to select Residential real estate, not Nonresidential real estate.
Thanks for the reply.
I'm entering it in the "Rental Real Estate" section. My choices are:
- Land Improvements
- Residential real estate
- Amortized Intangibles
-Nonresidential real estate
- Qualified Improvements
- Roofs/HVAC/Fire (I'm choosing this one)
- Other
Choose Residential real estate since that will give you a 27.5-year recovery period.
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