Yes, you will set up the rental property as an asset within the Schedule E for that particular property and begin depreciation in the first year.
After that, if you add onto the building, or build a fence, or other assets, you will add those as additional assets and begin their depreciation.
They will all transfer into your TurboTax for the next year and continue to be tracked.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
