topic Can I take Section 179 deduction for Residential Rental Property? (I read on TaxAct.com that it's not allowed) in Investors & landlords

Can I take Section 179 deduction for Residential Rental Property? (I read on TaxAct.com that it's not allowed)

wandys — Sat, 01 Jun 2019 20:03:05 GMT

I spent $4900 for wood floors on a residential rental property in 2018. I entered it as Capital Improvement, and TurboTax is asking if I want to take Section 179 deduction. However I read on TaxAct.com that Section 179 deduction is not allowed for rental property -- is this true? If so why is TurboTax not telling me that i am not allowed to take it (TurboTax knows this is a rental property)?

Yes -You can take Section 179 deduction for Residential R...

IreneS — Wed, 15 Apr 2020 20:42:27 GMT

UPDATED FOR TAX YEAR 2019

Yes - While you cannot take Section 179 deduction for the residential rental property, itself, you can use Section 179 to deduct tangible, long-term personal property. This includes, for example, kitchen appliances, carpets, drapes, or blinds.

[Edited | 4/15/2020 | 1:35pm PDT]

I talked to one TurboTax Live Expert this morning who sai...

wandys — Sat, 01 Jun 2019 20:03:24 GMT

I talked to one TurboTax Live Expert this morning who said I can go ahead and take Section 179 for kitchen and bath remodeling, and guided me to enter a the bath remodel as capital improvement with 27.5 yr depreciation and with Section 179 with no error or warning.

However, when I got TurboTax "Final Reviews", it said "Cannot use Section 179 for Real Properties"!?

So I called a second Live Expert who said I cannot use Section 179 for anything that would be depreciated 27.5 years

Who is right??