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New Member

My rental property does not show depreciation on Schedule E. I thought Turbo tax took care of this for me? How do I amend?

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Level 15

My rental property does not show depreciation on Schedule E. I thought Turbo tax took care of this for me? How do I amend?

Follow the instructions at the link below to amend your 2019 income tax return.

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-amend-a-2019-return-in-turbotax/00/123845...

 

You can contact Support via the link below.

 

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

 

In order for TurboTax to calculate depreciation on your rental property (so that the deduction appears on Schedule E), you need to proceed through Rental Properties and Royalties in the program and enter your property in the Assets/Depreciation section.

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Level 15

My rental property does not show depreciation on Schedule E. I thought Turbo tax took care of this for me? How do I amend?

Follow the instructions at the link below to amend your 2019 income tax return.

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-amend-a-2019-return-in-turbotax/00/123845...

 

You can contact Support via the link below.

 

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

 

In order for TurboTax to calculate depreciation on your rental property (so that the deduction appears on Schedule E), you need to proceed through Rental Properties and Royalties in the program and enter your property in the Assets/Depreciation section.

View solution in original post

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Level 10

My rental property does not show depreciation on Schedule E. I thought Turbo tax took care of this for me? How do I amend?

Did you enter any personal-use days?  If so, that is likely that cause (assuming you entered the "asset" for depreciation).  And unless it went back-and-forth between rental and personal use, you should be entering ZERO personal days.

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Returning Member

My rental property does not show depreciation on Schedule E. I thought Turbo tax took care of this for me? How do I amend?

I thought I had the same problem, but found the depreciation showed up on Form 4562 instead of Schedule E where I would have expected it.

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Level 10

My rental property does not show depreciation on Schedule E. I thought Turbo tax took care of this for me? How do I amend?

@JBGoode   In most cases it still shows up on Schedule E. 

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Level 15

My rental property does not show depreciation on Schedule E. I thought Turbo tax took care of this for me? How do I amend?

Depreciation expense/deduction shows up on line 18 of the SCH E. If you have more than one passive activity reported, then the amount of depreciation allowed for each activity will show up in it's respective column on line 18, for that specific passive activity.

If you do not see any depreciation on line 18 for a specific activity, and you know there should be depreciation, there are several reasons for this.

1) The assets of the activity were fully and completely depreciated in the prior tax year. (This is not common)

2) You incorrectly entered an amount of personal use days greater than ZERO, when you "in fact" have no personal use days. (read the note on that screen, then change personal use days to ZERO)

3) You incorrectly entered the same values in the COST box and the COST OF LAND box.

4) You have absolutely no assets what-so-ever listed in the assets/depreciation section of the program (or the depletion section if this is for royalty income.)