If you want to speak to someone about entering the depreciation for your rental unit, go to the upper right-hand area of your TurboTax Online screen and click on HELP, then CONTACT US, then TALK TO A PERSON. If you want to speak to Live Tax Advice, you can click on that choice in the upper right-hand corner of your TurboTax screen to find out how much that will cost.
Depreciation on a rental should be taken every year. Home depreciation is "allowed or allowable" which means that even if you did not take the depreciation, you will still get dinged on the sale.
"If you used all or part of your home for business or rental after May 6, 1997, you may need to pay back ("recapture") some or all of the depreciation you were entitled to take on your property. "Recapturing" depreciation means you must include it as ordinary income on your tax return."
Depreciation on a rental home is taken over 27.5 years. You begin taking the depreciation the moment you place the property in service as a rental. You stop taking depreciation when you take the property out of service or when you have deducted the entire cost or other basis in the property.
Take care to remove the land from the depreciable basis. Land cannot be depreciated.
You can find out more about rental property here and here.
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