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EY999
March 25, 2024
Question

How to enter a rented, newly built, ADU on primary residence property

  • March 25, 2024
  • 1 reply
  • 0 views

I am using the Home and Business version TurboTax and can't seem to figure out how to enter the cost of building the ADU so we can start the depreciation of the unit that's rented out. Where do you enter that cost?

1 reply

PatriciaV
PatriciaV
Employee
March 25, 2024

Enter the cost for the new ADU under Rental Property & Royalties (Schedule E) in the Assets/Depreciation section. TurboTax will ask you basic questions about the type of asset, when it was placed in service (available to be rented) and your cost basis. You should then see a page with the depreciation expense for this year. Click "Show Details" to review the info used to calculate depreciation.

 

Additional Information:

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    E
    EY999Author
    March 25, 2024

    Thank you.

     

    For some reason that section of questions wasn't available when I first tried (before I posted my question), but they did appear afterwards.

    Thanks also for the links of additional info.

    Best regards,

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