turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Jesse88
New Member

I have a rental property a depreciation of $8000(Turbo calculated for me). can I put less depreciation than $8000? thanks!

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DS30
New Member

I have a rental property a depreciation of $8000(Turbo calculated for me). can I put less depreciation than $8000? thanks!

No - The IRS requires that you claim the correct amount of deprecation every year and will assume that you do claim the correct amount  (whether you actually do or not).

Therefore if you have entered all the rental asset information correctly (including any prior year depreciation), then the amount calculated would be the correct amount that you are required to claim in the current year.

View solution in original post

1 Reply
DS30
New Member

I have a rental property a depreciation of $8000(Turbo calculated for me). can I put less depreciation than $8000? thanks!

No - The IRS requires that you claim the correct amount of deprecation every year and will assume that you do claim the correct amount  (whether you actually do or not).

Therefore if you have entered all the rental asset information correctly (including any prior year depreciation), then the amount calculated would be the correct amount that you are required to claim in the current year.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies