topic Re: When will depreciation be ready in Get your taxes done using TurboTax

When will depreciation be ready

BigThunderChunky — Fri, 13 Feb 2026 18:00:47 GMT

No one seems to know besides "Sometime in Feb...probably...maybe...hopefully"

Re: When will depreciation be ready

baldietax — Fri, 13 Feb 2026 23:06:14 GMT

many threads on this now hard to follow as everyone is just freaking out, the latest from Intuit reps in this forum I've seen was hopefully a release this weekend but they can't give firm date for the release.

https://ttlc.intuit.com/community/taxes/discussion/re-will-depreciation-and-amortization-be-ready-soon/01/3775340#M1402948

Re: When will depreciation be ready

MonikaK1 — Sat, 14 Feb 2026 22:50:05 GMT

I've been advised today by management that the work on the depreciation section of TurboTax is continuing and expected to be completed with an update coming the evening of Thursday, February 19th.

@BigThunderChunky

@baldietax

Re: When will depreciation be ready

BigThunderChunky — Sun, 15 Feb 2026 03:02:53 GMT

Thanks for the update @MonikaK1. Can we be 100% confident that this will be the actual delivery date. It seems this date has been moved several times.

Re: When will depreciation be ready

RachelW33 — Sat, 21 Feb 2026 19:56:57 GMT

Form 4562 is now updated for Schedule E and ready to use in TurboTax

Please make sure you have the latest updates and walk through that section again.

Updates in TurboTax Online are automatic.

If you are using TurboTax Desktop, please follow these steps:

Log-in to TurboTax Desktop
Select Online from the top left bar menu
Choose Check for Updates
Choose Ok

@BigThunderChunky

Re: When will depreciation be ready

SStern — Tue, 24 Feb 2026 22:46:13 GMT

It's February 24th, and the depreciation section is still not working. I paid for online help this past weekend, and after help was told that apparently, it's not yet ready. Any idea when it will be ready?

Re: When will depreciation be ready

LeticiaF1 — Wed, 25 Feb 2026 03:05:53 GMT

As RachelW33 mentioned, Form 4562 is now updated for Schedule E. Follow the steps she provided above to file your return.

If you have any additional questions or information regarding this please return to TurboTax Community and we would be glad to help.

@SStern

Re: When will depreciation be ready

SStern — Wed, 25 Feb 2026 17:03:26 GMT

I have never used Turbo Tax for my taxes with a rental property. I've been having my taxes done professionally for years. Turbo Tax does not work when you let it guide you through the Assets/Depreciation. I answered yes to did you buy any items that cost $2500 or less in 2025. I then answered Yes to both questions on the next screen. Then yes to every item I bought costs $2500 or less. At that point Turbo tax just quits and goes back to the review page.

I paid for the Live Tax Advice this weekend. The expert that I spoke with took control of my screen and also determined that Turbo tax was not working. There have been no updates since we spoke.

I tried opening form 4562 and it asked for the name of my farm. Shouldn't turbo tax guide me through this process? I want to write off a dishwasher and enter in past depreciation.

Are you saying Turbo tax is not going to guide me through the process?

Re: When will depreciation be ready

DianeW777 — Wed, 25 Feb 2026 17:34:58 GMT

Yes, the action you describe is correct. You may have missed the guidance for you to enter the total expense under miscellaneous expenses in your rental activity. These questions were guiding you to decide if you want to deduct in full any asset purchased in 2025, if the cost was $2,500 or less.

See the details below for DeMinimis Safe Harbor option. This does not apply for assets purchased in an earlier year, and it does not apply to the rental house itself.

You should be using Schedule E and not Schedule F for a rental activity.

How do I enter my rental income and expenses?
Follow the instructions and select Add Expense or Asset to enter your assets from prior years. Continue past the Safe Harbor questions for those assets.

Safe Harbor Election for Small Taxpayers:

What can I depreciate or expense with the business safe harbor method?

If you find you do qualify for this option and you want to take the full expense in one year use the steps below to enter it in your return.

When you come to the screen, Did you buy any items that each cost $2,500 or less in 2025? mark the Yes button and click Continue.
On the screen Let's see if you qualify to deduct these items as expenses, mark both of the Yes buttons and click Continue.
On the Now, let's review each item you bought screen, mark whether all your new assets cost $2500 or less.
If you mark that every item cost $2,500 or less, you will be brought to the following: You have elected the De Minimis Safe Harbor provision.
If you mark that some cost above $2,500, (this is for capital improvements to a building only)
If you say No, you will see the screen Do you have any items that aren't covered by your elections? Proceed through the screens to enter these assets.
On the Here's the Info for this work screen go to the Expenses section and click on the Start/Update box.
Continue to the Miscellaneous Expenses? screen and enter the description (Safe Harbor) and amount paid for the assets. Click Continue when finished.
- The asset will not be entered as above, it will be entered as a miscellaneous expense.

All assets are taxable items until they are disposed of by sale or junked. Keep a record of any and all assets for your rental.

@SStern