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New Member
posted Jun 1, 2019 10:26:03 AM

I purchased an apartment in November 2017. How should I proceed?

I purchased an apartment in November 2017.  I made it available for rent on Dec. 1, 2017.  How should I proceed in order the declare the rental income and the expenses for that property?  Can I depreciate?

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1 Best answer
New Member
Jun 1, 2019 10:26:03 AM

Yes, you can depreciate it for the month of December when it was available for rent.  Here is how to enter it as a rental property in TurboTax, see below. Note: In the rental section, you will have to set up your rental in the Property Profile and also enter it as and asset in the Asset/Deprecation section.

https://ttlc.intuit.com/replies/3288530

1 Replies
New Member
Jun 1, 2019 10:26:03 AM

Yes, you can depreciate it for the month of December when it was available for rent.  Here is how to enter it as a rental property in TurboTax, see below. Note: In the rental section, you will have to set up your rental in the Property Profile and also enter it as and asset in the Asset/Deprecation section.

https://ttlc.intuit.com/replies/3288530