Investors & landlords

Please be aware that if you change the method of depreciation, you may have to notify the IRS with Form 3115, Application for Change in Accounting method. 

To see your rental property:

1. Sign into your TurboTax account.
2. Select Pick up where I left off or Continue.
3. Select Federal then Wages & Income from the left side menu.
4. On the Wages and income screen, scroll down to Rental Properties and Royalties (Sch E) and Edit/Add.
5. If you get to the Your 2022 rentals and royalties summary screen, Edit the property. If you only have one property, select Edit.
6. On the Here's XXX rental property info screen, scroll down to Assets. At Improvements, furnishings, and other assets, select Edit.  
7. If you land on the Your improvements, furnishings, and other assets screen, click on the pencil  to the right of your property.
8. If you land on the Your Property Assets screen, click on the Edit next to the asset you want to view.  
9. On the Review Information screen, verify the information.
10. Continue and on the Results screen, you should see the depreciation for the current year.

To see the depreciation and amortization schedule’s plus the Asset Life History, you’ll need to print out the worksheets.