In Turbo tax premier I own 50% of one rental property and it is taking 50% of the rents BUT deduction 100% of the depreciation

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April 3, 2025
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In Turbo tax premier I own 50% of one rental property and it is taking 50% of the rents BUT deduction 100% of the depreciation. Is there a way to manually adjust the depreciation amount. Is anyone else having this issue? It does take 50% of all the other expenses

SharonD007

Only enter 50% of the cost basis in the Assets section of your rental property. On the

Tell Us About This Rental Asset screen, enter 50% of the cost.

TurboTax will calculate your depreciation based on the amount you enter for the cost basis.

If you need help getting back to the Rental Property Section, refer to the navigation instructions in this article: Where do I enter income and expenses from a rental property?

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Lorie 12Author

Thank you. It IS at 50%. Everything else goes to 50% the only thing not going to 50% is the depreciation! It appears that it is taking the last 2.5 years of the remaining balance of depreciation and spreading that number out for 2024, 2025 and 50% for 2026. That's what I can figure out when I calculate manually. So on that theory I am going to leave it alone. Everything else ties out.

We were using the Lacrete tax program until last year. We inputted the data from the depreciation schedules produced from Lacrete for beginning balances into turbo tax last year - 2023.

Thank you again for your help. Lorei