I have multiple member llc rental property business. On turbo tax business how/where do I enter an asset that I need to depreciate but is used for all three properties?

[HelenaC]

Enter the asset in all three properties. Just use 33.33% of the cost (basis) as your cost. One of the three properties should be 33.34%.

Please see the instructions below to enter your asset:  

• Type rentals in the search bar and click search.
• Click on Jump to rentals.
• Continue with the onscreen interview.
• If you get to the Rental and Royalty Summary screen, Edit the rental.
• At the Review Your XXX Rental Summary screen, scroll down to Assets/Depreciation, click Start/Edit.
• On the next screen answer Yes. 
• Continue with the onscreen interview 
• On the Did you make improvements to XXX in 2016? screen, click Yes.
• On the next screen you will have an option to take an annual election, if you qualify. 
• If you do not take the election, continue to enter your roof on the Describe This Asset screen. Select Rental Real Estate Property. Click Continue.
• Enter your information and continue until complete.
  

Related information:

• How do I handle capital improvements and depreciation for my rental?
• What can I expense or depreciate with the business safe harbor election?
• What is rental depreciation and how does it differ from an expense?