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Level 2
posted Apr 5, 2024 8:29:59 AM

Let's check your 5-year property depreciation (2023 Home and Business)

The text is that "We noticed that you want to take special Economic Stimulus depreciation on some of your five-year depreciable assets and regular depreciation on the rest.".

 

I'm getting this message after the deductions and credits summary page. I have rental properties and I don't recall selecting "special Economic Stimulus depreciation" anywhere. Why cant' TT tell me where this was selected and then take me directly to the screen where this was selected or to the offending entries that prompted this notification?

 

All vehicle expenses were taken and standard mileage deduction and not depreciated

All rental assets that were depreciated ie  (stoves, microwave , carpet etc) were takes as 179 deductions 

In fact all/any  depreciation for any all assets on all properties  since 2018 has been section 179.

 

So why am i getting this message. How do undo  this entry that says I have elected to take the   special Economic Stimulus depreciation?

 

 

 

 

 

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1 Replies
Expert Alumni
Apr 9, 2024 9:21:47 AM

It's not really clear, although it may be referring to the Section 179 depreciation. If this is not interfering with filing your return and the review of your rental seems accurate based on your entries should proceed.  The following article may help with understanding.