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posted Jun 5, 2019 10:53:58 PM

Where do I report purchase of rental property that was for rent the last part of 2016.

I purchase a rental property in Oct  2016.  It was for rent in 2016.  Do I report the purchase separately  from the rental use in 2016?

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Level 4
Jun 5, 2019 10:54:00 PM

In the rental interview in Premier, you'll see a screen titled "your (address of rental) rental summary."  This screen lets you run the rental income, expenses, assets and vehicle expense sections for your rental property separately.  Start the "assets" interview for this rental property to set up your rental assets (including the building) for depreciation.

1 Replies
Level 4
Jun 5, 2019 10:54:00 PM

In the rental interview in Premier, you'll see a screen titled "your (address of rental) rental summary."  This screen lets you run the rental income, expenses, assets and vehicle expense sections for your rental property separately.  Start the "assets" interview for this rental property to set up your rental assets (including the building) for depreciation.