Using Turbo tax for first time. I have a rental unit. Last year my tax prep person included an amount for depreciation expense. How do I enter that for the first time?

The rental unit has been rented out by me for the past 20 years. Depreciation is for items purchased more recently. I have the depreciation amounts from last year, but not the cost basis details. Do I need to dig up past tax filings for that?

1809

Expert Alumni

Mar 17, 2025 11:30:05 AM

Yes, you will need the Depreciation schedule so that you can make the entries in TurboTax. You need the date placed in service, cost basis prior depreciation etc.

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Using Turbo tax for first time. I have a rental unit. Last year my tax prep person included an amount for depreciation expense. How do I enter that for the first time?