Hello, I replaced the HVAC in my rental property in 2023, but I'm still depreciating the previous HVAC (as a separate item from the property itself) that was replaced 10 years ago. I know how to enter the new HVAC as a depreciated item (for 27.5 years). My question is what do I do about the previous HVAC? Do I keep depreciating, since I did not get to depreciate the entire amount (whoever came up with 27.5 as a "usable life" for HVAC must have been on some good stuff)?
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Follow these steps to recoup the remainder:
Here is an example from a fake return using appliances.
Follow these steps to recoup the remainder:
Here is an example from a fake return using appliances.
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