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TT is depreciating the cost of my rental property over 39 years when it should be over 27.5 years. How do I fix this?

It is a residential property, not commercial. There's no reason it should be depreciated over 39 years.
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2 Replies
RobertB4444
Employee Tax Expert

TT is depreciating the cost of my rental property over 39 years when it should be over 27.5 years. How do I fix this?

Please clarify - are you using the property for short term rentals and cleaning up after similar to a hotel?  Because in that case the system will treat the property as a commercial property because you are using it as one.  So your income gets listed on schedule C and the property is depreciated over 39 years.  

 

@sungbumpark 

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TT is depreciating the cost of my rental property over 39 years when it should be over 27.5 years. How do I fix this?

Is this short-term rental (average stay of 7 days or less)?

 

If the average stay is over 7 days, is it under 30 days?

 

Are "services" provided to the tenants, such as maid service or meals?

 

Where are you reporting this in the program?  In the "Rental" section or in the "Business" section?

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