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D
darrell-teague
October 7, 2024
Question

What asset type should be used in "Asset" worksheet under Schedule C when trying to claim bonus depreciation for an active transient accommodation unit purchase?

  • October 7, 2024
  • 1 reply
  • 0 views
TT claims that SDA bonus depreciation cannot be claimed for type of property but not clear what to enter for a (legitimate) case of a short-term rental property purchased, upgraded and placed in service during tax year.

1 reply

A
Anonymous_
Employee
October 7, 2024

Untitled.png

A
Anonymous_
Employee
October 7, 2024

If you're reporting this on Schedule C, it would be classified as nonresidential real estate.

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