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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
Ok ... If this is for a rental property then you needed to choose the correct section on this screen :
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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
What ? Closing costs are added to the cost basis of the property when you place it into service. Why are you trying to enter them now separately ?
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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
I used the wrong term. I'm trying to amortize them and not depreciate.
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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
Did you refinance the loan ? Is that what you are calling closing costs ?
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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
yes
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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
Ok ... If this is for a rental property then you needed to choose the correct section on this screen :
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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
That is what I selected. I defined the life as 15 year but could not set the method to 150% DDB
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How do I modify the amortization method from SL to 150% double declining balance on TurboTax?
The Default for amortization is deducted ratably over 15 years(180 months).. you cannot choose 150%DB ... the program will do this automatically ... review the depreciation worksheet.
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