I have used segmented depreciation on my rental property since buying it on 5/1/2006. I have treated the sewer line as a 20 year asset using the 150DB depreciation method. How do I force TurboTax Home and Business (desktop) to depreciate an asset as 150DB on a 20 year lifetime instead of a 15 year lifetime? There is no place to enter data directly into the form 4562 in Turbo Tax 2022 so I don't know how to do this.
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Thanks! I will try this and see where it takes me.
You're probably going to have to use Other when you enter this asset so that you can specify the recovery period and depreciation method.
Thanks! I will try this and see where it takes me.
Yes, choosing the "other" category allows me to enter depreciation data directly as I need to. Thanks
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