Skip to main content
April 6, 2025
Question

why is the system not asking me about bonus depreciation for a newly acquired rental property

  • April 6, 2025
  • 1 reply
  • 0 views
No text available

    1 reply

    April 6, 2025

    IRS Publication 527 states:

     

    Residential rental property.

     

    You must use the straight line method and a mid-month convention for residential rental property. In the first year that you claim depreciation for residential rental property, you can claim depreciation only for the number of months the property is in use.

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