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mohojo
New Member

How do I find out how TurboTax has depreciated a rental property? Is there a detailed depreciation schedule or report?

 
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3 Replies
BrittanyS
Expert Alumni

How do I find out how TurboTax has depreciated a rental property? Is there a detailed depreciation schedule or report?

The depreciation of rental property is reported on Form 4562, Depreciation and Amortization.  You can view the form in TurboTax Desktop by clicking forms in the upper right-hand corner and scrolling down to Form 4562.  To view the document in TurboTax online, you will follow these steps:

 

  1. Click Tax Tools
  2. Click Tools
  3. Click View Tax Summary
  4. Click Preview my 1040

The return must be paid for the forms to show under preview my 1040; this will allow the return to be printed and viewed, including all forms and Form 4562.  

 

[Edited 03/29/2023| 10:46am PST]

 

@mohojo

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mohojo
New Member

How do I find out how TurboTax has depreciated a rental property? Is there a detailed depreciation schedule or report?

Kind of answers what I need but I am also looking for the details of cost basis.

RobertB4444
Employee Tax Expert

How do I find out how TurboTax has depreciated a rental property? Is there a detailed depreciation schedule or report?

The cost basis of your depreciated property is based on the answers you gave when you set the property up initially.  It is based on what you paid for the property when you bought it as well as any costs you incurred to buy it and set it up.  You would have entered all those numbers when you created the asset and TurboTax has just carried them forward.  If you go back to the tax return year that you entered the asset initially you will find a little more detail on the basis that you set up.

 

@mohojo 

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