Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
S
scotsman1000
April 22, 2019
Solved

Depreciation of a replacement boiler outside USA

  • April 22, 2019
  • 1 reply
  • 0 views
I am having a problem setting up the depreciation of a replacement hot water boiler for a rental property outside the US. Under IRS rules it looks like this falls under “furnace” and when placed in service before 2015 the correct MACRS ADS recovery period is 40years. However turbo tax only gives three options: residential real estate, appliances, land improvements. Appliances results in 9 years which is wrong. Any suggestions?
    Best answer by Anonymous_
    No text available

    1 reply

    A
    Anonymous_Answer
    April 22, 2019
    No text available
      S
      scotsman1000Author
      April 22, 2019

      OK. This is turbo tax online.  If I chose rental property and set the land value to 0 it does seem to work out though. Many thanks!

      A
      Anonymous_
      April 22, 2019
      No text available
        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 & ConditionsCookie settingsAccessibility 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