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Depreciation for rental property - tax return for 2020
I am currently filing my tax return for 2020 and need help to figure out how to enter depreciation for the rental property. My tax returns for 2018 and 2019 show the same amount in Schedule E but Turbo Tax didn't automatically prompt me to enter the depreciation amount for my 2020 tax return. How do I enter this amount for Schedule E? I am currently using Turbo Tax Premier which has a section for Assets/ Depreciation but it asks me to enter the initial amount, which I assume it will use to calculate depreciation. Is this the only way for me to enter the depreciation amount?
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‎October 17, 2023
2:47 PM