MichaelN30
Level 3
02-01-2021
03:17 PM
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The Consolidated appropriations Act, 2021 signed into Law 12/27/20, allow Residential Properties put into Service prior to 2018 to use 30 year ADS recovery period (instead of the 40 year period under the 2017 TCJA.) I have an apartment building that was put into service in 2017 and Proseries is only showing a 40 year period for 2020 deprecation. It should allow 30 year period for 2020. The law in Proseries appears incorrect.
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