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st78
Returning Member

2021 Schedule E - Calculation error on depreciation

I called Support in mid February about calculation error for depreciation and management fees on 2021 Schedule E when rental property is taken out of service during the year - Turbotax is still giving me full year depreciation and management fees. When will this error be fixed?

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1 Reply
ColeenD3
Expert Alumni

2021 Schedule E - Calculation error on depreciation

This is not a reported issue. You should delete the form, clear cache and cookies and redo Schedule E.

 

Make sure that you marked that you converted the property to personal use and mark the date. See the third option in the screenshot below. then click on "From rental to primary residence".

 

A drop down box will instruct you to:

 

  1. Only enter expenses for when the property was a rental.
  2. Since your rental became your home, we'll walk you through stopping depreciation on your rental property and rental assets in the Assets section later. Make sure to keep a copy of your depreciation report, you'll need it if you sell the property.

On the, Tell Us More About This Rental Asset screen, mark that it was converted and the date you converted it.

 

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