Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
C
clark_harbaugh
February 22, 2023
Question

I replaced the fence and HVAC this year on a rental property that was put in service in 2018. How do I enter this on 4562 for depreciation?

  • February 22, 2023
  • 2 replies
  • 0 views
No text available

2 replies

Carl11_2
Carl11_2
Employee
February 22, 2023

You'll enter each of those assets separately in the Assets/Depreciation section.

The fence is classified as a land improvement and gets depreciated over 15 years.

The HVAC gets classified as residential rental real estate and gets depreciated over 27.5 years.

Take special note that neither of those assets qualifies for a SEC179 or SDA deduction per IRS publication 946.

 

M
MAK70
February 22, 2023

You will want to add as an asset in the rental property section of TurboTax.  Follow the interview and you will be able to file the Form 4562 with your tax return.

 

TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification