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John PJanus
Returning Member

Depreciation of rental property

I HAVE BEEN USING tURBOTAX FOR SEVERAL YEARS AN D HAVE ALWAYS INCLUDED THE DEPRECIATION OF A RENTAL PROPERTY. tHIS YEAR, IT WOULD NOT ALLOW ME TO INCLUDE THE DEPRECIATION. wHY?

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5 Replies
ColeenD3
Expert Alumni

Depreciation of rental property

Did you enter all the information in the Asset section?

 

John PJanus
Returning Member

Depreciation of rental property

I have reviewed the entire asset definition, and it appears to be correct.  The rigid structure of TurboTax premiere will not allow me to enter the annual depreciation that I have been using for the past 10 years ( TurboTax for  the last 5 years.) Therefore, Turbo Tax will cost me money. It appears that my only solution is fill out the forms by hand. I find this unacceptable.

 

ColeenD3
Expert Alumni

Depreciation of rental property

Did you look to see if it is on line 18 of Schedule E. You do not enter a dollar figure. You just answer questions about the property's use for the year and the program calculates the depreciation.

 

 18 Depreciation expense or depletion 

 

John PJanus
Returning Member

Depreciation of rental property

Turbo Tax will not allow me to enter the correct amount in in Schedule E nor will it do it now as it has in the past.

 

John PJanus
Returning Member

Depreciation of rental property

My Form 4562 shows the proper depreciation amounts, but they are not moved to Schedule E. Why Not !!!

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