Enter your cost basis for depreciation of an asset in the rental section of TurboTax.
- Type rentals in the search bar and click on Jump to rentals.
- On the Your 2021 rentals and royalties summary screen, Edit the property.
- On the Here's XXX rental property info screen, scroll down to Expenses/Assets (Depreciation), Improvements, furnishings, and other assets, Edit.
- On the Your improvements, furnishings, and other assets screen, select Add asset and Continue.
- Continue until you get tot he Describe This Asset screen. Select the option that best describes this asset and Continue.
- On the Tell Us About This Rental Asset screen, you'll be able to enter the basis and date purchase or acquired.
- Continue with the onscreen interview until complete.
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