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digitalsdc
Returning Member

How does landlord of multiple properties enter section 179 (or bonus depreciation) expense?

I have 5 properties I own and manage and purchased a 6,000+ lb SUV and utility trailer in 2020 specifically in support of that business. I understand I can either take bonus depreciation or Section 179 to depreciate the entire expense in the year 2020. However, I can't figure out how to make that happen in TurboTax Premier. Please help... 

 

Thanks!

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3 Replies
ColeenD3
Expert Alumni

How does landlord of multiple properties enter section 179 (or bonus depreciation) expense?

Follow the steps below to get to the area you need. You will have to apply the questions to the vehicle.

 

Improvements, furnishings, and other assets

Examples:

  • Fencing, wall-to-wall carpeting, etc.
  • Couch, bed, etc.
  • Amortizable intangibles (mortgage points)

Tools, Machinery, Equipment, Furniture

Equipment used in business, expensive tools, aircraft, musical instruments

Desk, bookcase, chair, file cabinet

 

Trailers and trailer-mounted containers

digitalsdc
Returning Member

How does landlord of multiple properties enter section 179 (or bonus depreciation) expense?

Thanks for your response. I'm not sure I entirely follow your instruction. Is this for TurboTax Premier?

 

Thanks again!

mbos9
New Member

How does landlord of multiple properties enter section 179 (or bonus depreciation) expense?

I have the same question as the OP. How do I depreciate a section 179 SUV over multiple rental properties? Thanks!

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