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2021 ProSeries Professional-receiving error messages on "Asset Depreciation" entry page for a Residential Rental's Improvement (Flooring) depreciation in use since 2017. The error appears under the Additional Asset Details section of the Asset Entry Worksheet. I input 15 as the asset class for the improvement to a residential rental property placed in service on 6/1/2017.
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Why 15yr ? Wouldn't it be code I - Residential Rental Property - 27.5yrs ?
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Hey. Good question. Yes. Let me recheck-the life of an improvement to Residential Rental Properties. Clearly, I have forgotten the rules.
Thank you.
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dkh, Thanks again. Of course, you were on point.
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In ProSeries, what is the Type of Asset for residential rental property bathroom renovation and new flooring-
Thanks
