turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes & Forms (2024) on Mar 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How do I add total depreciation taken before 2024 for a rental property after completing a draft of the return?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DavidD66
Employee Tax Expert

How do I add total depreciation taken before 2024 for a rental property after completing a draft of the return?

If you did not use TurboTax in prior years and are adding an existing rental property, TurboTax will calculate the accumulated depreciation that should have been taken, based on the information you input (cost basis, date placed in service, etc.).  If the amount the program calculates is different than your actual accumulated depreciation you can the amount TurboTax calculated by editing the Asset Worksheet.  You can only do this if you are using TurboTax Desktop (which I highly recommend if you have rental property).  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question