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joakharbor
Returning Member

Depreciation

The Tax Account I used for years retired this last year and I am using TurboTax for the first time.  In depreciating new windows that were installed in 2014 on my rental house, my account used a 15-year life depreciation schedule, When I enter the data in Turbo Tax is showing a 5-year depreciation schedule.  How can correct it to match the deprecation schedule I have been using in the past years?  Thanks 

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3 Replies
AmyC
Employee Tax Expert

Depreciation

Follow these steps:

  1. Return to the asset
  2. Edit
  3. Intangibles, Other Property
  4. Continue
  5. Select Other asset type
  6. Describe Windows
  7. Cost $$
  8. Date acquired in 2014
  9. Continue
  10. Purchased new
  11. Enter date of business use
  12. Continue
  13. Asset class, select 15 year
  14. Continue
  15. MACRS - select HY or MQ to match 2014 forms
  16. Continue
  17. Select the depreciation method - again match 2014 forms
  18. Continue
  19. Review
  20. Continue
  21. Listed? No
  22. Confirm prior depreciation
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joakharbor
Returning Member

Depreciation

Thank You.   Have a Great day. 

Depreciation

Windows are considered as part of the building.  That means they are depreciated over 27.5 years.   Both 15 years and 5 years are wrong.

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