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How to change GDS to ADS on the assets entry worksheet?

gentlesam
Level 2

Hello,

For a residential property on 1040 Sch E, the clients wanted to use 40 years under alternative depreciation system (ADS) rather than the 27.5 years under general depreciation system (GDS).  But I do not see any option or check box .  Could anyone advise on this.

Thank you

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2 Comments 2
Terry53029
Level 14
Level 14

If put in service in 2019 ADS has changed to 30 years for residential rental For type of asset use O, then scroll down to bottom of worksheet fill in info using ALT as depreciation method

 

gentlesam
Level 2

Thank you Terry53029.

I am also able to override the depreciation method from "Straight Line" to "Alternate Method".  It seems this also serves my purpose to use the ADS.

 

 

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