I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

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I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

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I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

What month in 2015?

I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

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I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

July.

I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

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I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

Review the depreciation worksheet & the form 4562 to see what is being depreciated and how ... do you have other items being depreciated like the property itself ?

I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

Yes, but the property itself is a different line item.

I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

The amount should show on Line 17 Form 4562 along with any other items placed in service that year.

I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

The standard depreciation of the appliances is per the MACRS tables published by the IRS for a five year class life. It is not as simple as taking the purchase price and dividing by 5 which is what you calculated.

I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

Ok. Got it. Thank you folks.

I purchased appliances worth 2278 for rental property in 2015. Based on 5 year depreciation method, yearly depreciation must come to 455. Turbo tax calculates 820 ??

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