How can I access my depreciation types from the home office asset summary?

Forum|Forum|2 years ago
April 2, 2024
1 reply
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Under the rental property, I can get to the list and under the edit choice go thru and make appropriate selections for the data entry and force the type it should be.

But under the home office, I can't even see the type it is creating. I click the edit button and it jumps from "confirm your prior depreciation" back to the list. I can't double check the type or make changes if needed.

PatriciaV

Employee

Please clarify which version of TurboTax you are using: Online or Desktop? Windows or Mac? If Online, which browser?

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jessshoeAuthor

Online Mac with Chrome

MonikaK1

For general navigation issues with TurboTax Online, check your Internet connection. Logging out of TurboTax and back in, changing browsers (though Chrome generally works well), or clearing your cache and cookies often helps.

Are you entering depreciation on part of your own residence to work on Schedule E rentals? See this thread and this one for discussion of that issue. Rentals may not qualify for home office expense. Also, you can't use home office expense to create or increase a net loss.

From IRS Publication 587:

To qualify to deduct expenses for business use of your home, you must use part of your home:

Exclusively and regularly as your principal place of business (see Principal Place of Business, later);
Exclusively and regularly as a place where you meet or deal with patients, clients, or customers in the normal course of your trade or business;
In the case of a separate structure that is not attached to your home, in connection with your trade or business;
On a regular basis for certain storage use (see Storage of inventory or product samples, later);
For rental use (see Pub. 527); or
As a daycare facility (see Daycare Facility).