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March 9, 2023
Question

RENTAL PROPERTY ACCELERATE DEPRECIATION PURCHASED AND PLACED IN 2022

  • March 9, 2023
  • 2 replies
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How do I calculate the accelerate depreciation and special depreciation for this rental. If I select in turbo tax rental residence is calculating regular depreciation. If I use land improvements it is giving me the opportunity to get a special depreciation but not sure if this is correct. I purchased a condominium on Oct 2022 and rented on Dec 2022. 

2 replies

March 9, 2023

the condo is residential real estate depreciated using MACRS over 27.5 years. MACRS for this is straight line using the mid-month convention. accelerated depreciation, special depreciation, and 179 depreciation  are not available,