Business & farm

To depreciate your rental house, you must first enter the house as an asset.  To do this, please follow these steps:

1. Click on Federal  > Wages & Income 
2. In the Rentals, Royalties and Farm Royalties section click on the Start/Update box next to Rental Properties and Royalties (Sch E). 
3. On the Income from Rentals or Royalty Property You Own  screen, click Yes.
4. If you have already started adding information about your  rental, you will come to the Rental and Royalty Summary screen.  Click on Add Another Rental or Royalty. 
5. Continue through the screens, entering the requested information.
6. You will come to the screen, Review Your [property address] Rental Summary. 
7. Click on Start/Update in the Assets/Depreciation section.  Continue through the screens to enter the information on the property and TurboTax will calculate the depreciation  for you..
8. When you have finished entering the income, you will be brought back to the Review Your [property address] Rental Summary so you can enter other categories such as expenses, vehicle expenses, depreciation, etc.