Rental Property Depreciation not subtracted from Rental Property income.

Forum|Forum|1 year ago
April 12, 2025
1 reply
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In the Federal > Income and Wages Section > Rental Properties and Royalties (Sch E) section, clicking Add/Edit takes you to the "Your 2024 rentals and royalties summary" section.

After adding the depreciation amount, it shows up on this page.

However, after clicking "Done", the amount is not shown on the next page:

The net income for the property does not take the property depreciation amount into account. It looks like I've hit a software bug. Is there a way to get around this?

TurboTax Premier Online

DianeW777

It depends. The rental assets depreciation has worked accurately for me when reviewed. If you edited your asset to go through the screens and review your depreciation then it will be recorded when you finish the asset section of your tax return. Next, finish the rental section. It's a good idea to print your return before you file so you can see all the numbers to confirm they are recorded.

You have access to all forms when you choose to print your return in TurboTax Online/Mobile. However you are required to pay before printing, but do not have to file until you are ready.