I input a rental property that I sold during the year. Where do I find the "special depreciation allowance" that I'm supposed to put in?

[JamesG1 · Accepted solution]

Are you wanting to claim special depreciation on the rental property, an appliance within the rental property, or something else?  Please clarify.

The options for special depreciation or bonus depreciation are presented to you as you enter the asset into the software.

At the screen How Do You Want to Deduct this Item?, special depreciation is the last option listed.

If you are entering an asset and special depreciation is not listed as an option, special depreciation may not be available for that kind of asset.

Take care how the asset is described at the screens Describe This Asset and Tell Us a Little More.

Rental property improvements that are capitalized and depreciated are recorded as additional assets.  In TurboTax Online, access the rental assets as follows:

• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Wages & Income.
• Click the down arrow to the right of Rentals, Royalties, and Farm.
• Click to the right of Rental Properties and Royalties.
• At the screen Your 2024 rentals and royalties summary, click the pencil to the right.
• At the screen Here's rental property info, select Edit to the right of Assets Rental property.
• At the screen Your property assets, select Add an asset.
• Follow the screens to enter each asset.