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can i take the depreciation deduction i have one rental home i'm an active participant, not a professional. the depreciation is not calculating, I can't see why?

 
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1 Reply
pk
Level 15
Level 15

can i take the depreciation deduction i have one rental home i'm an active participant, not a professional. the depreciation is not calculating, I can't see why?

@dmkpatrick 

are you saying you have entered the  rental property as an asset  ( asset entry worksheet) -- TurboTax should have asked you for  Acquisitions cost, Cost of land under the property, when you bought the prop. and when  you first started to rent the ( the date you actually started advertising for rent ) ?   Because this is what is used by Turbo to compute the depreciation which will then flow to your Schedule-E as allowable depreciation for the year.

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