bonus depreciation

[MGC94]

I do not see where you can take the bonus deprecation on a rental on the asset entry sheet for the home for the first year of the rental. Can someone tell me where that is? 

[dkh]

On a rental house ??     What reference material told you bonus depreciation was available ?

[MGC94]

I was watching a youtube video and it said it in it 

[Norman2001]

The recovery period has to be 20 years or less to be eligible for bonus depreciation. 

https://www.irs.gov/businesses/cost-segregation-audit-techniques-guide-chapter-6-8-bonus-depreciatio...

[sjrcpa]

YouTube is not a trusted research source.

[IRonMaN]

But it's easier to watch You Tube videos than it is to read tax literature 😜

[qbteachmt]

Oh, gee, let me help. After all, you could have checked it with this method faster than waiting for the Intuit Professional Accountants' community input panels to load...

And then you would not have needed to keep bugging peer users on such basic issues. Because I consider this community as similar to a water cooler at the office, where some people are on break. You keep walking up and demanding attention for your issues, expecting them to go back to work on your behalf.

I googled:

does bonus depreciation apply to rental property irs

First result:

It's important to note that bonus depreciation in real estate applies only to improvements and not to a rental property itself. That's because real estate has a useful life of more than 20 years.

Jan 20, 2023

[abctax55]

Conway.... if you are really doing over 1000 returns, even at $ 50/return you can afford to buy some research materials.  As suggested many times before on your innumerable posts.

Here I'll even provide the link for you.  Buy the WebLibrary and it is *immediately* available for you to read & do your OWN research.  

https://www.thetaxbook.com/

[abctax55]

Oh great.... believe a YouTube video (unless it's an IRS one 🙂 rather than:

1) Research material

or, gasp

2) IRS website

[MGC94]

All I am doing is listening to videos and podcasts as I am working 

[abctax55]

yesterday

I was watching a youtube video and it said it in it 

*********

Yet you quoted a YouTube video as your source for claiming bonus depreciation on rental property assets. 

[abctax55]

I was watching a youtube video and it said it in it 

*********

[IRonMaN]

If that is the case, you might want to turn them off.

[qbteachmt]

"All I am doing is listening to videos and podcasts as I am working"

Pay attention to your sources.

I googled this for you:

irs video depreciation

Here:

https://www.irsvideos.gov/

See the ".gov" part?

Please let me know if there is any other work I can do for you, while you help all those clients you are working for. I'll just be here, standing by...

[Lord Happy]

Happy day...you humans are clearly showing your age.  YouTube is so 2022.  Even TikTok is archaic.  Its ChatGPT for the win.