topic When I try to enter a rental real estate property to Turbo Tax Home and Business it gives me three options for asset category none of which fit my asset. in Investors & landlords

When I try to enter a rental real estate property to Turbo Tax Home and Business it gives me three options for asset category none of which fit my asset.

ehosler — Thu, 06 Jun 2019 06:10:44 GMT

Where in the program are you? What 3 options are you given?

IreneS — Thu, 06 Jun 2019 06:10:45 GMT

Where in the program are you? What 3 options are you given?

Adding an asset. The asset is a house we are renting. The...

ehosler — Thu, 06 Jun 2019 06:10:47 GMT

Adding an asset. The asset is a house we are renting. The three options are Non Residential Real Estate, Qualified Improvement Property, and Specific Qualified Improvements. The house is none of the above. Thanks.

You do not have to enter the home as a asset as a separat...

IreneS — Thu, 06 Jun 2019 06:10:48 GMT

You do not have to enter the home as a asset as a separate process. This is done automatically when you go through the beginning of the rental interview. You are asked about the purchase price of the property, the assessed value, days rented, improvements, etc.

You will come to a screen, Depreciation Results, with the depreciation calculation for the house.

You can also review your depreciation from the screen, Review Your [address} Rental Summary.

In the Assets/Depreciation section click the Update box.
Mark the radio button next to Yes I want to go to my asset summary and click Continue.

You will see your house is already in the list of assets.