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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