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macrivi
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RENTAL PROPERTY ACCELERATE DEPRECIATION PURCHASED AND PLACED IN 2022

How do I calculate the accelerate depreciation and special depreciation for this rental. If I select in turbo tax rental residence is calculating regular depreciation. If I use land improvements it is giving me the opportunity to get a special depreciation but not sure if this is correct. I purchased a condominium on Oct 2022 and rented on Dec 2022. 

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2 Replies

RENTAL PROPERTY ACCELERATE DEPRECIATION PURCHASED AND PLACED IN 2022

the condo is residential real estate depreciated using MACRS over 27.5 years. MACRS for this is straight line using the mid-month convention. accelerated depreciation, special depreciation, and 179 depreciation  are not available,

 

 

Carl
Level 15

RENTAL PROPERTY ACCELERATE DEPRECIATION PURCHASED AND PLACED IN 2022

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