My Rental Property Assests

[JB1079]

Under rental summary I have my rental house which I just sold in 2022. I click edit on it and got to the summary. When I go to the "Sale of Property/ depreciation" and click update and see my asset summary, I see there are two entries. One is named for my property and the second line is titled Residential. Each one shows a depreciation. Why does it split my asset? Do I need to delete the one labeled Residential? Do I just leave it alone? Will that mess up the depreciation, if so how do I fix it?

Thank you

[DaveF1006]

Usually an improvement will have its own depreciation schedule in addition to the house. improvements may range from a new roof, a new water heater, new flooring, a room remodel etc. 

Check to see if the second entry is  for a separate asset that needs to be depreciated or if it is for the same house.

[JB1079]

It looks to be for the same house, but with a different property and land value. 

[PatriciaV]

You may need to review the assets for this property on your prior year tax return. Look for the Depreciation Report and confirm which of the assets you see on the current return match what you have been reporting. If you don't recognize one of the current assets, you can delete it. But be very sure it's not a valid asset before you hit delete, as the deletion cannot be undone.

[JB1079]

Thank you. That is actually what I ended up doing and figured it out last night.