Depreciation on rental property is not being accounted or not showing as negative amount that's messing my overall rental income. Anyone saw similar issue? How to handle?

The house has been rented since 2014 and Turbotax always calculated depreciation. Even now I see it in the depreciation details but that doesn't get accounted towards property expense.

3426

Expert Alumni

Mar 22, 2025 7:41:55 AM

We have not seen this as an experience. Check out your tax return preview using the steps below to check your net rental income. You will see this on Schedule 1, Part I, Line 5.

From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)

Select Tax Tools
On the drop-down select Tools
On the pop-up menu titled “Tools Center”, select View Tax Summary
On the left sidebar, select Preview my 1040

For TurboTax Desktop, change to 'Forms' and review the forms

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Depreciation on rental property is not being accounted or not showing as negative amount that's messing my overall rental income. Anyone saw similar issue? How to handle?