You will enter the rental profile first.
The business profile interview will ask about the rental building and land.
The information entered here will transfer and also be listed under "Assets" for the rental.
If 2024 was the year it was placed into service, select the date it was completed as the date you purchased, and the date you advertised for rent as the date put into service.
You will use the price you paid for the land as the basis for the land, and the price you paid to have the building completed as the cost of the building.
The building will be depreciated on this amount, land is not depreciated.
Later, if you add things like appliances, you can add them as additional assets.
These would be added as part of the rental, so you would go to the rental profile, then scroll down to assets.
Income and expenses are also entered below the rental profile.
You will need to know these amounts, as well as the yearly deprecation total, when you sell.
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