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I need to depreciate a new HVAC for a rental. The TurboTax categories are extremely vague. Which exact category and sub item do I choose to get 27.5 year depreciation?

I tried to select the "Rental Real Estate Property" category. Under that, there is no explanation of each category of "Residential Rental Real Estate", "Appliances, carpet, furniture", or "Land Improvements". This is ridiculous. So, I initially selected "Appliances, carpet, furniture". However, this gives an incorrect number of years. If I select "Residential Rental Real Estate" TT asks me for Land Value. None of these options seem correct? Which do I choose?
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1 Reply
MindyB
Expert Alumni

I need to depreciate a new HVAC for a rental. The TurboTax categories are extremely vague. Which exact category and sub item do I choose to get 27.5 year depreciation?

The correct category is residential real estate with land value of zero. In the description for cost of land, you can enter a cost if the asset includes land.  Since HVAC has no land cost, this is not applicable and doesn't require a value.

 

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