I cannot depreciate a building for 40 years. Instead, Turbotax puts in 31.5. How do I get it to use 40 years? This is commercial property, not residential.

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I am using the Premier version and trying to depreciate business rental property at 40 years.  Turbotax puts it in as 31.5.  What do I do?

[john-ct · Accepted solution]

You have to have the right asset code.  In the interview for a new asset, under type: other; next page: Non-residential R.E.   Or on the Asset Entry Worksheet in Forms, use the drop down menu under Type of asset, and choose J1 - non-residential.