Under the
depreciation section, the is an asset summary page:
There are several
reasons why TurboTax may not have calculated depreciation for your asset. They
include:
- the asset
may already be fully depreciated
- you may have
incorrectly entered the date you acquired the asset
- you may not
have entered a cost for the asset
There are numerous screens that deal with the depreciation of a
rental property.
- Describe This Asset
- Tell Us a Little More About
Your Rental Asset
- Tell Us About This Rental
Asset
Once you have double-checked you answers and entered the
information correctly, you will see the screen shot below
To manually calculate:
If you rented the home in 2017, be sure to include the 2017 partial year amount. Except for the first and last years which are partial, you may calculate it as below.
Year 2 though 9=3.636% times the basis. Years 10-26/27 see the table in link below if you want to be exact. Otherwise, continuing with the 3.636% will get you very close.
Year one= see table in the link below.
Last year=3.636 times the number of months held out for rent.
http://www.fkco.com/tax-forms-and-support/macrs-275-year-residential-real-estate-table
