Do I add the cost of the rental property we purchased in Assets, under "Rental real estate property" I already entered that info and a prior screen

[elsy-g]

It previously told me the amount that would be depreciated over 27.5 years. Would I be duplicating this entry.

[AmandaR1 · Accepted solution]

Yes, you should add the rental property under assets. Based on your additional info, it does sound like you may have already entered this.  Regardless, you should still see your rental property under your assets section in the software.

Be sure that you're "within" the rental property, for all income and expenses related to the rental (including the asset/depreciation entry).  To review your entry:

1. Login and click Take me to my return
2. Next, select Federal Taxes and then Wages & Income
   
3. Click Show more next to Rental Properties and Royalties
4. Next, click Start/Revisit next to Rental Properties and Royalties (Sch E)
5. Answer the questions and you'll begin setting up your rental property. Finish answering the questions and you'll come to a summary screen that says Review your XYZ Rental Summary. From this screen you'll be able to enter all rental income and expenses. [If you leave and come back to this section, after setting up a rental, you'll come to a Rental and Royalty Summary. Click Edit next to the rental to get back to the Review your XYZ Rental Summary screen to enter/change income and expenses.]
6. Click Start/Update next to Assets/Depreciation.