Special depreciation allowance

Does the special depreciation allowance apply to qualified property used in a residential rental property?

posted

Residential Real Property is not eligible for Special Depreciation. This includes the building and any improvements.

However, appliances, furnishings, and equipment used in a Rental Property are eligible for Special Depreciation in the year they were purchased and placed into service.

TurboTax makes this determination based on your choice under "Describe this Asset".

See also: IRS Pub 946: Special (Bonus) Depreciation

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Business Car. Took special depreciation on year 1. Went below 50% on year 2 so I recaptured. Now. I want to convert to personal use. How do I show that for coming year?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Special depreciation allowance