KrisD15
Expert Alumni

Investors & landlords

Did you first setup the rental profile and enter the information about the rental building and land as well as date placed into service?

If yes, stay in the rental section, but go down to the Assets/Depreciation.

 

If you leave the rental section, go back to "Rental Properties and Royalties"  

Select UPDATE

Yes, review and continue to the "Rental and Royalty Summary" screen

Select EDIT for the rental on the list

 

Select UPDATE for Assets/Depreciation

YES go to summary

The rental should be on the list 

Select "Add an Asset" to add the improvements

Select "Rental Real Estate Property"

Select "Appliances, carpet, furniture"

 

Continue through the interview

the asset will be depreciated at 5 years rate 

 

 

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