No Depreciation Deduction

prbailie — Sun, 22 Mar 2020 23:59:56 GMT

In 2018 I rented my home for 365 days. This was specified on Schedule E under "Fair Rental Days". Unfortunately as I was preparing my 2019 tax return (via TurboTax) I discovered that no depreciation expense was entered into my Schedule E for 2018. How does this happen when I specified on my 2018 return 365 days for the "Fair Rental Days"?

Re: No Depreciation Deduction

Anonymous_ — Mon, 23 Mar 2020 01:07:59 GMT

@prbailie wrote:

I discovered that no depreciation expense was entered into my Schedule E for 2018. How does this happen when I specified on my 2018 return 365 days for the "Fair Rental Days"?

Did you enter your home as an asset to be capitalized in the program?

Specifying that the property was rented for the entire year is not sufficient; you need to enter the home as an asset that can be depreciated in the Rental section.

topic Re: No Depreciation Deduction in Other financial discussions

No Depreciation Deduction

Re: No Depreciation Deduction