You add the asset inside the Rents and Royalties entry for the property. The point of the Asset category is the calculation of depreciation.
- Rental and Royalty Summary
- edit property
- Update or Start next to Assets/Depreciation
- Add the Asset of the rental home itself
- Choose Rental Real Estate Property and then Residential Real Estate so its calculated correctly
- Confirm your Prior Year Accumulated Depreciation when that question arrives
You won't have a Form 4562 if all of your assets were placed in service in a prior year.
Some software forces the 4562 even though the form instructions do not indicate a requirement when all assets are placed in service in a prior year. You can force a 4562 in the desktop version, but don't think this can happen online. The depreciation deduction just goes on Schedule E. There is nothing wrong with not having a 4562 if and when you didn't add new assets in the current year.