You're not doing it correctly. You'll have to manually set up the assets in order for TurboTax to automatically generate Form 4562 so it matches what your manager gave you.
See the TurboTax FAQ below on instructions to enter your rental. Eventually, you'll come to the Rental Summary screen, which is where you enter your rental income and expenses, assets and depreciation, and vehicle expenses.
Your manager should also give you a Depreciation schedule that details:
- what you are depreciating,
- the depreciation basis,
- purchase dates,
- the method for depreciation and
- how much depreciation has already been taken.
You'll need to enter these amounts when you initially set up the rental assets.
Since you purchased the property in 2019, you may need to amend your 2019 income tax return to account for this rental. See Do I need to amend?
To enter your rental income, expenses and assets, see Where do I enter income and expenses from a rental property?
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