How can I enter Adjusted Cost Base for rental property ?

[38WWDr]

I completed entered the rental income and expenses for my 2025 rental property - first time.

I was not able to find any form to enter Adjusted Cost Base for my rental property

Can someone please help me as where I can enter an Adjusted Cost Base for my rental property in 2025 TurboTax ?

[MindyB]

You can enter your cost basis and depreciate your rental property by navigating to the rental property section and selecting add an asset to claim depreciation. 

Here's how to do this in TurboTax Online:

1. Navigate to Federal > Income > Wages & Income Summary > Rentals, Royalties, and Farm > Rental Properties and Royalties (Sch E)
2. Edit the rental using the pencil icon, or create a rental if not yet started.
3. Choose add expense or asset, chooses Rental property in the list of asset options, then continue.
4. Now, navigate to Assets in the expense list, choose the pencil icon next to Rental property.
5.  Choose Add to add assets.  Enter information about the property, selecting Rental real estate property form the dropdown in the box titled Select an asset category. This selection depreciates the property over 27.5 years.

Here is some information you may find helpful: Rental Real Estate and Taxes

[38WWDr]

Thanks for your response. As I'm using Canadian version of TurboTax 2025, Schedule E ONLY is a Tax Form for US tax filing.

In this case, where do I enter the property Adjusted Cost Base in the Canadian version of TurboTax ?

Thanks in advance for any help.

[TurboTax_Susan]

@38WWDr Unless you are selling your property, there is no place to enter an "Adjusted Cost Base" for a rental property in Canada.

[WellieHmail]

Thx.  I'll wait until I sell my property to enter it.

Sorry for the late response.