40 year depreciation for property placed in service before January 1, 2018

[sharonwang]

According to https://www.irs.gov/publications/p946:

Residential rental property recovery period can be 40 years if placed in service before 1/1/2018. Mine was placed in service in 1992, and my accountant has always used the 40 year depreciation. I'm using TurboTax for the first time, and it only does 27.5 year depreciation, making my depreciation $0. How can I get it to use the 40 year depreciation instead?

[PatriciaV]

To set up this property as a 40-year asset under Assets/Depreciation, choose "Intangibles, Other property," "Other Asset type," and enter the specific property information. Under Asset Class, choose "Residential Rental" asset class (ignore the 27.5), and Alternate Method (ADS) depreciation method. These choices should result in a recovery period equal to 40. Check the "Show Details" box to confirm under the current year estimated depreciation amount.

You have the option to change the recovery period to 30 years under the Taxpayer Certainty and Disaster Tax Relief Act using Form 3115, although you may prefer to retain the original depreciation options for the remaining years. See this article for more information.