Question

New LLC, depreciating residential property

Forum|Forum|1 year ago
March 23, 2025
1 reply
0 views

Trying to set up a LLC for the first time. When I get to depreciation in Turbo Tax. There isn't an option to depreciate residential, only non-residential. How do I set this up

LLC

M

MAK70

@tokazawe Can you clarify where you are entering?

T

tokazaweAuthor

Was entering under Business Income and Expenses. I assumed I would use this since it's an LLC
I have another rental that is not LLC, therefore I enter under the next section Rental properties and royalties

M

MAK70

@tokazawe Yes, as you know it is easy to find in the rental property section. In the Schedule C/Self-Employment, it is tucked in when you Add an Asset. If you need help to get there, please let us know.