Rental Property expenses

[viejoloco]

I had to replace the air conditioner unit in my rental property. How do I report this expense? Does this expense qualify for the year the equipment was installed or must it be written off over time? What is the typical time? 5 years?

[RobertB4444]

You will report this as a depreciable expense. The time for you to depreciate significant capital improvements to a rental home is 27.5 years. 

[Contented]

I have a similar question.  I have sold a rental for which I have been depreciating a roof and furnace. How do I recapture that depreciation and do I list each as sold for $0 (as an asset) when I list the sale of the home for it's total?

[RobertB4444]

That's exactly how you'll do it.  Unless you want to allocate the sales price across all of the assets associated with the rental house.

[Contented]

Will Turbotax automatically enter the past years' depreciation?

[ThomasM125]

@Contented TurboTax will automatically carryover accumulated depreciation from previous years and calculate the current year depreciation on assets entered in previous years.