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Level 1
posted Dec 30, 2019 8:02:59 AM

How do I ensure Turbotax includes depreciation for my rental property on my returns? I noticed in previous years this has not been included on schedule E.

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3 Replies
Level 15
Dec 30, 2019 9:22:42 AM

Did you set up your rental property in the Assets/Depreciation section under Rental Properties and Royalties? If so, the proper depreciation deduction should be calculated and carried forward to each successive tax year in TurboTax.

 

Level 1
Feb 7, 2020 1:17:36 PM

Is their a section in rental portion of Turbo Tax to depreciate a rental property?

Level 15
Feb 7, 2020 1:21:18 PM


@zackofot wrote:

Is their a section in rental portion of Turbo Tax to depreciate a rental property?


You must enter the rental property as an Asset to be depreciated in the rentals section of the program.