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New Member
posted Apr 11, 2024 8:07:31 PM

How can I enter capitalized rental property improvements into TurboTax premier?

The asset/depreciation section does not allow rental property improvements costs over $2500. I cannot find place to enter my rental property improvement cost and calculate the depreciation 

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1 Replies
Expert Alumni
Apr 11, 2024 8:19:20 PM

Which TurboTax program are you using? 

It should be fairly easy.

Go to 

Rental Properties and Royalties   START or UPDATE

"Yes" to review

Continue to the Summary" screen and select EDIT for the rental location from the list 

Scroll down to "Assets/ Depreciation"   and click START or UPDATE 

Select "YES" I want to go to my asset summary"  and CONTINUE

Select "Add an Asset" in blue 

Select "Rental Real Estate Property"   and CONTINUE

Continue through the interview