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jbanaszek1
New Member

How do I capture depreciation on my rental in TT? The last 4 years a CPA has done this for me, this year I am using TT. How do I reflect the previous 4 years of dep?

for 4 years my CPA has done depreciation for me, this year I am doing it in TT for the first time and would like to reflect the depreciation already taken. 

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Accepted Solutions
Critter
Level 15

How do I capture depreciation on my rental in TT? The last 4 years a CPA has done this for me, this year I am using TT. How do I reflect the previous 4 years of dep?

Well that is good since you must report depreciation ... so as you complete the Sch E rental section you will enter all your assets in the asset section using the info from the depreciation worksheet you should have gotten from the CPA ... if one is not in your most current prior year return then contact them for a copy and don't let them BS you ... it should have been in your paper copy of the return to start with although many tax preparers don't put it in automatically so you are forced to return to them year after year. 

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1 Reply
Critter
Level 15

How do I capture depreciation on my rental in TT? The last 4 years a CPA has done this for me, this year I am using TT. How do I reflect the previous 4 years of dep?

Well that is good since you must report depreciation ... so as you complete the Sch E rental section you will enter all your assets in the asset section using the info from the depreciation worksheet you should have gotten from the CPA ... if one is not in your most current prior year return then contact them for a copy and don't let them BS you ... it should have been in your paper copy of the return to start with although many tax preparers don't put it in automatically so you are forced to return to them year after year. 

View solution in original post

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