htcruz
Level 2

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.  

 

 

0 Cheers
dkh
Level 15

Why 15yr ?    Wouldn't it be code I - Residential Rental Property - 27.5yrs ?    

htcruz
Level 2

Hey.  Good question.  Yes.  Let me recheck-the life of an improvement to Residential Rental Properties. Clearly, I have forgotten the rules. 

Thank you. 

 

htcruz
Level 2

dkh, Thanks again.  Of course, you were on point.  

View solution in original post

patrizia
Level 1

In ProSeries, what is the Type of Asset for residential rental property bathroom renovation and new flooring-

Thanks

0 Cheers