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Set 7 year depreciation

I've used an accountant in the past because we have a rental property.  Several assets have a 7 year life, but entry in TT often ends up at 5 year.  How do I edit (using online version) to get the correct depreciation?
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1 Reply
PatriciaV
Expert Alumni

Set 7 year depreciation

The recovery period for an asset is determined by the category you choose. 

For Rental Assets, choose "Tools, Machinery, Equipment" then "Office furniture, fixtures and appliances" for a seven-year asset

Computers, software, & copiers are five-year assets.

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