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KAM2000
Returning Member

Schedule E Lines 18 and19

An asset was purchased for residential rental property and depreciated on Schedule E Line 18 as anticipated. TT also listed the full price of the asset on Line 19. How can the full amount be an expense on Line 19 if it has been depreciated in Line 18?

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2 Replies
PatriciaV
Employee Tax Expert

Schedule E Lines 18 and19

Did you claim the Safe Harbor Election for the purchase of assets under $2,500? If so, you would not enter those assets again for depreciation (Line 18). Instead, they should be entered only as a rental expense (Line 19).

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KAM2000
Returning Member

Schedule E Lines 18 and19

Did not choose Safe Harbor Election but did find my error when entering in TT. I appreiciate your response!

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