Entering many assets at once?

[zacwitte]

I started a new short-term rental property in 2022. Since I furnished it from scratch there are a lot of assets that I need to depreciate over 5 years. Turbotax has the guided multi-step process for entering in assets but if I have ~100 of them in a spreadsheet it will take a very long time to add them all in turbotax. Can I upload a CSV file or is there a more efficient way to do this?

[tagteam]

You can't upload a CSV file into TurboTax; it won't work.

However, you can group those items together since they're in the same asset class.

[zacwitte]

If I group them together, what do I enter as the date purchased? The furnishings and appliances were acquired over a period of time even though they all entered service at the same date. That field seems to be required when TurboTax does the final checks before filing.

Also, if I group them and the total amount is more than $2500, I can't take advantage of the option to deduct it all in the year it first entered service.

[tagteam]

If you bought the assets on different dates, you would have to separate them accordingly.

Also, if you want to use the safe harbor de minimis election, you will, again, have to separate the items.