How should I enter improvement we did in the past year?

[jyz66626]

I had HVAC units replace in 2020 for my rental. It was captured and was using depreciation method over 7 years.

But I accidentally deleted this asset so I need to add it back.

I added it in this rental property "Assets/Depreciation"/"Your Property Assets" by click "Add an Asset".

I could not find the way to add improvement and depreciation method of 7 years.  I referred previous link : https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-and-where-do-i-ad...

I tried "Rental Real Estate Property" in "Describe This Asset"->"Residential Rental Real Estate", it's treated as the main rental house and used 27.5 years to depreciate.

I tried "Rental Real Estate Property" in "Describe This Asset"->"Appliances, carpet, furniture", it used 5 years to depreciate.

It seems only "Intangible, Other property"->"Other asset type" has option to use 7 years depreciation. 

Is that the correct way to added the my past improvement back?

Thanks

[AnnetteB6]

Yes, in order to continue to use the depreciation method that you started and accidentally deleted you are on the right track.  (For future reference, HVAC units are considered a component of the house itself and should be depreciated over 27.5 years.  Do not change it on your current year return unless you file a change in accounting method to make the correction.)

Here is a guide for how to go about entering depreciation into TurboTax in order to duplicate the entries that have been made on previous returns to continue the same depreciation.

• Start from the Schedule C or Schedule E section of your return until you get to the Assets/Depreciation section.
• Proceed to the point where you are adding an asset on the page titled Describe This Asset.
• In order to enter the asset exactly as it has been reported in the past, choose the last option on the list, Intangibles, Other Property, then click Continue.
• On the next page titled, Tell Us a Little More, select Other asset type, then click Continue.
• Enter the detailed information about the asset:  description, cost, date purchased or acquired.  Click Continue.
• Move forward with additional details on the next screen, then click Continue.
• Select the appropriate Asset Class, then click Continue.
• Choose the MACRS Convention, then click Continue.
• Select the Depreciation Method, then click  Continue.
• Answer the question regarding Listed Property, then click Continue.  There may be some additional background questions as well, keep going.
• You will eventually come to a screen to confirm the Prior Depreciation, enter the data and click Continue.
• Finally, you will see an Asset Summary screen with the current year depreciation amount listed.  There is also a check-box here to Show Details.  This will open a full description for the asset so you can verify that it matches the previously reported information.  If it does not, you can choose to go Back and re-enter the data that needs to be changed.