Discussion ongoing
SCHEDULE E - RESIDENTIAL ASSET TYPES
On your Asset Entry Worksheet, under type of asset, you can right click for a complete listing of rental fixed assets & get the corresponding code letter to use.
Where is HVAC ??? I recommend that you add it to your list. It's a very popular residential rental improvement.
PS
Hot water heater has letters F or G. 5 or 7 year property. I am getting some recommendations to use a 27.5 year life. Please research & confirm 5 or 7 years.
Thank you.
Bob Bender, CPA
