topic Does TurboTax Premier cover accelerated depreciation for rental property? in Investors & landlords

Does TurboTax Premier cover accelerated depreciation for rental property?

binseal — Mon, 23 Feb 2026 10:32:20 GMT

Re: Does TurboTax Premier cover accelerated depreciation for rental property?

Carl — Sun, 22 Jan 2023 03:55:43 GMT

What kind of rental property? It used to be that accelerated depreciation for rental property could only be applied to qualified Indian reservation property. But as it stands now, the accelerated recovery period for qualified Indian reservation property does not apply to property placed in service after December 31, 2021.

Re: Does TurboTax Premier cover accelerated depreciation for rental property?

binseal — Sun, 22 Jan 2023 04:03:49 GMT

Thanks for reply.

It is a residential rental property. I bought it in 2022. Not sure can I use TurboTax Premier for accelerated decreciation because I did a lot of improvement for the property.

Re: Does TurboTax Premier cover accelerated depreciation for rental property?

Carl — Sun, 22 Jan 2023 08:16:14 GMT

From what I see in IRS Pub 527, accelerated depreciation is not n available option for anything classified as residential rental real estate under MACRS. But if you have assets that do qualify, TTX can handle it just fine if you enter them under the "other asset" category.

Re: Does TurboTax Premier cover accelerated depreciation for rental property?

Anonymous_ — Sun, 22 Jan 2023 15:25:24 GMT

@binseal wrote:
It is a residential rental property. I bought it in 2022. Not sure can I use TurboTax Premier for accelerated decreciation because I did a lot of improvement for the property.

With respect to residential real estate, many improvements, and the structure itself, use a recovery period of 27.5 years and the straight line method of depreciation (straight line depreciation is actually a type of MACRS).