Rental property re-entering the market. We have pulled the rental for 2 renting again with lower cost basis(depreciation substracted). Turbotax won't let me add as asset

it gives me " Nice work, you got a tax break with $1k deduction, but when i go to the Income page, assets are not showing and income is not decreased by this $1k condo depreciation.

178

Expert Alumni

Apr 11, 2022 5:26:06 AM

After you enter the income and expenses, you will see "Asset" as the next option. Click on "Start" and you will be taken to the screenshot below.

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Rental property re-entering the market. We have pulled the rental for 2 renting again with lower cost basis(depreciation substracted). Turbotax won't let me add as asset