How to enter a rented, newly built, ADU on primary residence property

I am using the Home and Business version TurboTax and can't seem to figure out how to enter the cost of building the ADU so we can start the depreciation of the unit that's rented out. Where do you enter that cost?

3055

Expert Alumni

Mar 25, 2024 5:49:29 AM

Enter the cost for the new ADU under Rental Property & Royalties (Schedule E) in the Assets/Depreciation section. TurboTax will ask you basic questions about the type of asset, when it was placed in service (available to be rented) and your cost basis. You should then see a page with the depreciation expense for this year. Click "Show Details" to review the info used to calculate depreciation.

Additional Information:

Level 1

Mar 25, 2024 10:09:41 AM

Thank you.

For some reason that section of questions wasn't available when I first tried (before I posted my question), but they did appear afterwards.

Thanks also for the links of additional info.

Best regards,

Why sign in to the Community?

How to enter a rented, newly built, ADU on primary residence property