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Level 1
June 1, 2019
Solved

Why the rental property depreciation expense is zero before it is fully depreciated?

  • June 1, 2019
  • 1 reply
  • 20 views

I have entered all information correctly for my rental property but the result came out as zero for depreciation expense even though the property is not fully depreciated, is it an error in calculating?

How can I enter the depreciation expense manually?

Best answer by CherylW

One of the questions must be answered incorrectly.

To re-enter the expense manually:

1.  Click Income across the top.

2.  Click Update by Profit or Loss from Business.

3.  Click Edit by the business you’d like to change.

4.  Scroll down to Assets Being Depreciated and click Update.

Delete the asset in question.  Put it in again, paying particular attention to the questions.


1 reply

CherylWAnswer
Level 11
June 1, 2019

One of the questions must be answered incorrectly.

To re-enter the expense manually:

1.  Click Income across the top.

2.  Click Update by Profit or Loss from Business.

3.  Click Edit by the business you’d like to change.

4.  Scroll down to Assets Being Depreciated and click Update.

Delete the asset in question.  Put it in again, paying particular attention to the questions.