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laifang01
April 12, 2024
Question

How can I enter capitalized rental property improvements into TurboTax premier?

  • April 12, 2024
  • 1 reply
  • 0 views

The asset/depreciation section does not allow rental property improvements costs over $2500. I cannot find place to enter my rental property improvement cost and calculate the depreciation 

    1 reply

    KrisD15
    KrisD15
    April 12, 2024

    Which TurboTax program are you using? 

    It should be fairly easy.

    Go to 

    Rental Properties and Royalties   START or UPDATE

    "Yes" to review

    Continue to the Summary" screen and select EDIT for the rental location from the list 

    Scroll down to "Assets/ Depreciation"   and click START or UPDATE 

    Select "YES" I want to go to my asset summary"  and CONTINUE

    Select "Add an Asset" in blue 

    Select "Rental Real Estate Property"   and CONTINUE

    Continue through the interview 

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