7689
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Type of real property

Abason inc is a C corporation. It buys houses and rent them out. It has 5 houses and all of them are rented to different families. My question is "are these houses considered as residential real property or nonresidential real property? What is the period for depreciation (27.5 or 39 years)?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Carl
Level 15

Type of real property

This is quite obviously a homework question.  You'll find your answer in IRS Publication 527 which you can find with your friend, google. But note that who owns the rental property is irrelevant. Residential Rental Real Estate is Residential Rental Real Estate, regardless of who or what entity may own it. Ownership is irrelevant. It's use is all that counts.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question