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kiwi2006
New Member

How do you determine the depreciation on rooms rented in one's home at the time of selling?

IN FIGURING One's "PURCHASE EXPENSES OR deductions" on the sale of a home, how is depreciation calculated re: rental of rooms in one's home?

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2 Replies

How do you determine the depreciation on rooms rented in one's home at the time of selling?

Look at the depreciation worksheet for the accumulated depreciation taken on the room... save a PDF of the return with the worksheets to find this information.

Hal_Al
Level 15

How do you determine the depreciation on rooms rented in one's home at the time of selling?

Depreciation is not included IN FIGURING One's "PURCHASE EXPENSES OR deductions".  It is a separate adjustment.   

 

After entering your home sale, you'll be asked if there was any unqualified use. You'll be asked to enter any depreciation claimed, in the past.  That comes from your own records.  You'll usually find it  on line 18 of Schedule E. TurboTax may have created a "Depreciation Report" worksheet showing your accumulated depreciation.

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