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Can't enter rental depreciation

I own 2 rental properties. In last year's return, I noticed nothing showed up in Form E Line 18, which should be the annual depreciation amount for each property. 

 

I've tried amending it, but the Rental Property Info section doesn't seem to allow it (or, I can't figure it out). The Expenses / Assets (Depreciation) section asks about Real estate taxes, Repairs, Cleaning/maintenance and Mortgage interest -- but not Depreciation. And there is no option in the Rental property info section to edit this.

 

One other note: The depreciation was showing up correctly in previous years -- so it has Cost Basis and the depreciation schedule info somewhere. I had used a CPA - not using Turbo Tax for two years and now this info seems to be gone. 

 

Thanks in advance.

 

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1 Reply
AmyC
Employee Tax Expert

Can't enter rental depreciation

You have to add the house as an asset before you can depreciate it. The program pictures and prompts have some variation so choose what is close to this.

Follow these steps:

  1. Open to federal income
  2. Select rental
  3. Rental and Royalty summary
  4. select the property and Edit
  5. Summary of your rental shows
  6. Locate the asset/ depreciation section
  7. Edit/Update
  8. $2500 of items or less, select  no to get to the house and get it added. You can come back later and say yes.
  9. Make improvements- select no for now. Again, you can come back later and say yes.
  10. Select to add an asset
  11. Enter the house as an asset
  12. select add asset
  13. Enter any other assets/ improvements
  14. done

 

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