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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.

ratings image
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.

 

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