Where do I input rental property depreciation costs?

[cmariegott]

How do I enter rental property depreciation costs in Turbo Tax Premiere?

[KrisD15]

First the rental needs to be listed. 

If this was carried over from 2021, it will be listed, if not you will need to add it. 

Rental 

Review

Add Another Rental or Royalty (if needed) OR enter 2021 income and expenses 

The yearly depreciation for 2021 is calculated from this information. 

Select Done when finished with 2021 income and expenses

Update Rental properties

Review

Select EDIT for the property

Scroll down to Assets/Depreciation

Select Update or Start

Review or go to asset summary

Edit the asset from the list, or add an asset

Prior depreciation is entered here if the program had not previously been used or did not carry over. 

[Carl]

Understand that "you" don't figure or enter depreciation amounts anywhere. The program does it "for you" based on the data you enter for the asset in the assets/depreciation section.

[sct4]

I missed the chance of pulling my 2021 income tax before beginning the data entry of 2022 tax return.

Now I am facing the following problems

1. My husband is the head of household on 2021 tax return but 2022 tax return shows

me as head of house.

2. I lose the depreciation calculation of all my rental properties on 2022 tax return

3. Per 2021 tax return, my husband had business income and expenses. Now I could not pull out

a blank schedule C for my husband business expenses entries.

Please help me find the solution for my above problems asap.

Thank you very much.

[Carl]

I missed the chance of pulling my 2021 income tax before beginning the data entry of 2022 tax return.

I would highly suggest you start over so you can import the data from your .tax2021 file. This will be faster than having to re-enter all the data manually, in the Assets/Depreciation section.

Now I am facing the following problems

1. My husband is the head of household on 2021 tax return but 2022 tax return shows

me as head of house.

If you were legally married on or before Dec 31 of the tax hear, the Head of Household filing status is not an option. The only options are Married Filing Joint, or Married Filing Separate. Additionally, a married person can not be claimed as a dependent on any tax return. (Exceptions apply. Do you qualify under any of those exceptions?)

2. I lose the depreciation calculation of all my rental properties on 2022 tax return

YOu state that in the plural, indicating you have more than one rental property. If so, that's why it's best to start over so you can import the data from the .tax2021 tax file.

3. Per 2021 tax return, my husband had business income and expenses. Now I could not pull out

a blank schedule C for my husband business expenses entries.

Yet another reason to start your 2022 tax return over from scratch, so you can import all that stuff for both the SCH C business, and the SCH E rentals.

Please help me find the solution for my above problems asap.

With less than 3 days until the filing deadline, you really need to just start over. How you do that, depends on if you're using the CD version of TurboTax, just close the program. Then delete the .tax2022 file in the documents/turbotax directory. Then fire up the program again, and it's "as if" you just started it for the very first time after installing it.

If you're using the online version of TurboTax, then for instructions on how to clear your return and start over, see https://ttlc.intuit.com/turbotax-support/en-us/help-article/change-service-level/clear-start-turbota...