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How to compute these numbers, on the "Your profit and loss results - rental and royalty income" page at the end of "Income" section? The numbers seem very off for me.

I tried to add up my rentals income, but didn't add up to the number showed on the page. Where should I check for any input error or duplicate input?
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2 Replies
JamesG1
Expert Alumni

How to compute these numbers, on the "Your profit and loss results - rental and royalty income" page at the end of "Income" section? The numbers seem very off for me.

Depreciation expense is not easy to gauge.

 

Depreciation expense is computed within the rental activity.  You enter only the original purchase amount and the software computes the depreciation expense for the current year and subsequent years.

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How to compute these numbers, on the "Your profit and loss results - rental and royalty income" page at the end of "Income" section? The numbers seem very off for me.

Thank you so much. Do you mean this is the asset price - depreciation (accumulative)? Not about the tax this year? 

I was confused and tried to see what did I enter incorrectly or double entry

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