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Rental property is not an 'Intangible' asset. If this is a business building it's nonresidential property, if it's a rental home it's residential rental property. You need to go back to change your selection.
Rental property is not an 'Intangible' asset.
Typically, you'd be in this section if you were entering amortized costs. However, it's clearly stated there is no mortgage on the property. So I don't see any reason for them to be in that section at all. But I'm "assuming" they're in the "other assets" section. Since I'm not that familiar with TTX Business, I can only guess. It's also not clear if this is for commercial business property or residential rental real estate. I would think the latter since there's no mortgage. But it could be an inheritance for all I know.
Thank you. I am a bit confused as my CPA has been depreciating the closing costs over a 15-year basis, not 27.5 years.
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