Re: Am I required to claim rental property depreci... - Page 4
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Eab19
New Member

Am I required to claim rental property depreciation on my Schedule E (line 18)?

where should i put information to get to line 18 schedule E from turbetax side.

Thanks

 

 

jtax
Level 9

Am I required to claim rental property depreciation on my Schedule E (line 18)?

You enter the detail of each of the assets and TT figures out what to put on line 18. Very complicated calculation.

 

This prior answer explains how to do the entry

 

https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/calculate-depreciatio...

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Saxxon442
New Member

Am I required to claim rental property depreciation on my Schedule E (line 18)?

If I own a house for 10 years and then move out and it becomes a rental for 18 months do I have to pay depreciation on the house because I know that I don’t have to pay cap gains

DianeW777
Expert Alumni

Am I required to claim rental property depreciation on my Schedule E (line 18)?

Yes.  Any depreciation allowed or allowable (the 18 months it was rented whether or not you took advantage of the deduction) during the rental period will be recaptured and will be taxable limited to the actual amount of gain on the sale.  

 

Carefully answer the questions in the asset section of the rental activity.  

  1. Answer - No, I have not always used this item 100% of the time for this business.
  2. Answer - No, Special Handling Required?
  3. Begin to answer the questions about the Home Sale
  4. TurboTax will do the rest once this has been completed

 

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