On your Rental Summary screen, click on the start/update button for Assets/Depreciation.
There will be a series of screens for you to answer questions concerning your assets.
When you land on the screen Describe this Asset - select Rental Real Estate Property and Continue.
On the following screen select Residential Rental Real Estate
The next screen asks about a description, cost, cost of land, date purchased or acquired.
The following screen asks some more question to include the date you put this asset into service/using it for business.
You have now added the rental property as an asset and it is being depreciated over 27.5 years.
