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Level 2

Question

Can you help me add an asset for my wife's home business, that we have previously depreciated to this year's return

Forum|Forum|2 months ago
April 15, 2026
1 reply
47 views

This has been claimed on previous returns in the past several years

TurboTax Online

Level 15

It depends. When you want to add an asset and you already have assets, then you will go to your asset list and add another asset.

When you are signed into your tax return follow the steps below in TurboTax Online and TurboTax Desktop.

Search (upper right) > Type schedule c > Click the Jump to... link
Edit next to your rental property or business
Click on Add an expense or asset / Add expenses for this work
Select Asset > Continue back to the Business or Rental Info screen > Edit beside the Asset Category
Begin to add your new asset
Continue back to the business or rental info and scroll to Assets > Edit to add an asset
Describe your asset, enter the cost and date acquired > Continue > Select 'I purchased this asset'
Keep going until you have finished the screens for your asset

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mattbhollandAuthor

Level 2

Thanks! I was able to get it added and properly depreciated, based on prior years’ tax returns.