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New Member
posted Jun 4, 2019 9:02:54 PM

Should I see no ($0) Depreciation on Sch E Line 18 from the passive Rental Properties I purchased in 2018 though I entered Purchase Price, Land Value, Income & Expenses?

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1 Best answer
Expert Alumni
Jun 4, 2019 9:02:58 PM

You should be seeing depreciation expense for the first year.  Residential rental property uses a mid-month convention whereby the depreciation is calculated starting with the mid-point of the month placed in service.

3 Replies
Intuit Alumni
Jun 4, 2019 9:02:55 PM

What month was it placed in service?

New Member
Jun 4, 2019 9:02:57 PM

There are 2 properties in 2018 (January and May in Service) plus one in 2017 (July) - not seeing  depreciation being added to expenses

Expert Alumni
Jun 4, 2019 9:02:58 PM

You should be seeing depreciation expense for the first year.  Residential rental property uses a mid-month convention whereby the depreciation is calculated starting with the mid-point of the month placed in service.