How do I add my rental property depreciation value? Schedule E, Line:18 from turbo tax. I didn't find a place to enter that.

[AnnetteB6 · Accepted solution]

If 2022 is the first year that you have rented the property, then there should have been some questions along the way asking about the purchase date, purchase price, date placed in service, etc.  If you did not see those questions, then you will add the rental property itself as an Asset for depreciation.

While in the Rental Income and Expenses section, look for the Assets/Depreciation section and then Add an Asset.

Use the following steps to go directly to the Rental Income and Expenses area of the return to get started:

• On the top row of the TurboTax screen, click on Search  
• This opens a box where you can type in “rental income and expenses” (be sure to enter exactly as shown here) 
• The search results will give you an option to “Jump to rental income and expenses”
• Click on the blue “Jump to rental income and expenses” link and enter your information

[atankala]

Thank you for the advice. Does that mean if I didn’t purchase the house in 2022 there is no depreciation? I added my rental income but I wasn’t asked for purchase date or price and my purchases was from 2019. Please advice.

[AnnetteB6]

No, that just means that if you indicated to TurboTax that 2022 was the first year you rented the property, then the questions should have automatically appeared as part of the process.

You still can and should claim depreciation for the rental property.  Enter it as an Asset, but be sure to indicate when it was first used as a rental and the date you purchased the property when you are entering the information.  They are not always the same date and that is fine.  

If 2022 is not the first year that you have rented the property and you did not claim depreciation in previous years, you should amend those years to include the depreciation for the property. 

@atankala 

[atankala]

Thank you.