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Investors & landlords
In TurboTax, depreciation is entered by first adding the asset(s) in the Assets/Depreciation section of your Rental Summary for that property. TurboTax calculates the depreciation based on your entries in the Asset/Depreciation section and then automatically populates the Depreciation line on your Schedule E.
Click the "magnifying glass Search" icon on the top row, enter "rental property" in the search window and press return or enter, and then click on the "Jump to rental property" link to get back to the Rental and Royalty section. After continuing through a couple of questions, you'll see your rental property to Edit. The next page is where you will see the Assets/Depreciation section. Start that, and answer the questions to enter your rental property assets.
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