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Gussy2020
New Member

depreciation of rental property

Where do I enter my depreciation information on turbotax premium?

 

 

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1 Reply
JamesG1
Employee Tax Expert

depreciation of rental property

In TurboTax Premium Online, enter depreciation for a rental asset as follows:

 

  • Down the left side of the screen, click Federal.
  • Down the left side of the screen, click Wages & Income.
  • Click the down arrow to the right of Rentals, Royalties and Farm.
  • Click to the right of Rental Properties and Royalties (Sch E).
  • At the screen Your 2024 rentals and royalties summary, click the pencil to the right of the rental activity.
  • At the screen Here's rental property info, click Add expense or asset.
  • At the screen Take a look..., check the asset that needs to be added.  Click Continue.
  • Click the pencil to the right of the asset that was created.
  • At the screen Describe This Asset, answer questions creating the asset and establishing the depreciation.

 

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