Skip to main content
April 14, 2021
Question

Good morning! The depreciation of my rental property did not transfer from last year's return to this one. How can I add to this one? Thanks in advance!

  • April 14, 2021
  • 1 reply
  • 0 views
The depreciation of my rental property did not transfer from last year's return to this one. How can I add to this one?

1 reply

April 14, 2021

It can be done by using your depreciation worksheet from your 2019 tax return.  Enter then exactly as they appear, amounts , dates placed in service, etc. TurboTax will automatically calculate all prior year depreciation as well as the current year. 

  1. In TurboTax, search for rentals and select the Jump to link at the top of the search results.
  2. Answer Yes to the question Did you have any rental or royalty income and expenses in 2020 for property you own?
  3. Follow the on-screen instructions as you proceed through the rental and royalties section.
    • We'll ask you to enter general information about your rental (like description, address, and ownership percentage).
    • Eventually, you'll come to the Rental Summary screen, which is where you enter your rental income and expenses, assets and depreciation, and vehicle expenses.
  4. When you enter your rental house as an asset be sure to select Residential Rental Property (see below), the follow the screen prompts to enter all the details.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"