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New Member
posted Jun 6, 2019 12:35:54 AM

I added an addition to an exisitng rental property. Where do I enter the various costs for the addition?

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1 Best answer
Expert Alumni
Jun 6, 2019 12:35:55 AM

 Under Income & Expenses/Rental Properties and Royalties, click "Yes" to answer " Did you have any rental or royalty income and expenses in 2018...." and answer the question about realty professionals. The next screen takes you to the Rental Summary page.  Click "Edit" next to the property. On the next screen click "Start" or "Edit/Add" next to Assets/Depreciation to enter the information pertaining to your addition.  The cost basis of the addition will be the sum of all expenses incurred for the addition.

2 Replies
Expert Alumni
Jun 6, 2019 12:35:55 AM

 Under Income & Expenses/Rental Properties and Royalties, click "Yes" to answer " Did you have any rental or royalty income and expenses in 2018...." and answer the question about realty professionals. The next screen takes you to the Rental Summary page.  Click "Edit" next to the property. On the next screen click "Start" or "Edit/Add" next to Assets/Depreciation to enter the information pertaining to your addition.  The cost basis of the addition will be the sum of all expenses incurred for the addition.

New Member
Jun 6, 2019 12:35:58 AM

It's good advice except that I didn't ask the question in the right way and asked an accountant with TT for help which we got.  Thanks in any case!