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Employee
February 26, 2025
Question

cannot find where to enter depreciation for my rental property and I've followed all the ai instructions.

  • February 26, 2025
  • 2 replies
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I've asked the ai help and there just is not the options present that ai is telling me to follow

    2 replies

    February 26, 2025

    When you review your rental property entries, you will see a section for Assets/Depreciation. That is where you can enter your depreciation for your rental property and furnishings:

     

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    DoninGA
    Employee
    February 26, 2025

    On your Rental Summary screen, click on the start/update button for Assets/Depreciation

    There will be a series of screens for you to answer questions concerning your assets. 

    When you land on the screen Describe this Asset - select Rental Real Estate Property and Continue. 

    On the following screen select Residential Rental Real Estate

    The next screen asks about a description, cost, cost of land, date purchased or acquired.

    The following screen asks some more question to include the date you put this asset into service/using it for business.

    You have now added the rental property as an asset and it is being depreciated over 27.5 years.