We had an accountant do our taxes the last few years. How do I add the depreciation details for our rental property from our previous tax return to turbotax for 2025?

[kaseyamoffett]

What lines do I use from our previous tax return and where do I enter it in turbo tax?

[JamesG1]

In TurboTax Online, access the rental activity assets by following these steps:

• Down the left side of the screen, click on Federal.
• Down the left side of the screen, click on Wages & income.
• Scroll down to Rentals, Royalties, and Farm.  Click down arrow to the right.
• Select Start / Revisit to the right of Rental Properties and Royalties.
• At the screen Your 2025 rentals and royalties summary, click the pencil icon to the right of the rental.
• At the screen Here's rental property info, click the pencil icon to the right of Assets.

Your 2024 income tax return should include an asset summary.  From this report, at the screen Confirm XXX prior-year depreciation amounts, you will report Total prior-year depreciation and Total prior-year alternate minimum tax depreciation.

At the screen Depreciation summary for XXX, you will verify the date placed in service, cost basis, depreciable basis (total cost minus cost of land) and recovery period.

[kaseyamoffett]

Thank you for your reply. Unfortunately, your steps are slightly different than what I'm seeing and I still can't find where to enter prior year deppreciation. 

[PatriciaV]

In TurboTax Online, open your return and navigate to Rental Properties and Royalties and edit the rental property where you need to report this asset.

1. From the Rental Property info screen, scroll down to the Assets section.
2. If you have already entered the building as an asset, click the pencil icon to edit your entries. Otherwise, Add another Asset.
3. Continue through the interview to the list of depreciable assets and click Edit beside the building entry.
4. Review or enter the asset information, including dates, cost, property type, etc.
5. Check the box if it was used 100% for business. Otherwise, enter the actual business use percentage for the period when the asset was used as a rental.
6. Continue to the page "Confirm [name] prior year depreciation amounts." This is where you enter the total prior year depreciation for both regular and ATM purposes.
7. Continue and review the Depreciation summary for the asset. Edit if needed.