turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

c-jablon
New Member

Need use 27.5 depreciating on Schedule E, line 2. on a $1K floor, 3rd year $36 not $643. and $4.4K bath, 3rd year $163 not $1,550. how do I force it to use 27.5 years?

 
2 Replies
ColeenD3
Expert Alumni

Need use 27.5 depreciating on Schedule E, line 2. on a $1K floor, 3rd year $36 not $643. and $4.4K bath, 3rd year $163 not $1,550. how do I force it to use 27.5 years?

It looks like you are attempting to use MACRS for personal property as opposed to real property. The 27.5 year table actually works as straight-line since it uses a standard 3.636% per year for every year except the first and last. . 

 

This would give you the amounts shown in the program.

Carl
Level 15

Need use 27.5 depreciating on Schedule E, line 2. on a $1K floor, 3rd year $36 not $643. and $4.4K bath, 3rd year $163 not $1,550. how do I force it to use 27.5 years?

You don't have to "FORCE" anything. If you identify the asset class as "Residential Rental Real Estate" the program will set up for 27.5 years depreciation. Period.

If the property is in a foreign country, then it gets depreciated:

 - If placed in service in 2017 or earlier, over 39 years.

 - If place in serviced in 2018 or after, over 30 years.

 

Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies