Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
O
onealjeffreyg
March 17, 2025
Question

Using Turbo tax for first time. I have a rental unit. Last year my tax prep person included an amount for depreciation expense. How do I enter that for the first time?

  • March 17, 2025
  • 1 reply
  • 0 views
The rental unit has been rented out by me for the past 20 years. Depreciation is for items purchased more recently. I have the depreciation amounts from last year, but not the cost basis details. Do I need to dig up past tax filings for that?

    1 reply

    M
    MAK70
    March 17, 2025

    Yes, you will need the Depreciation schedule so that you can make the entries in TurboTax.  You need the date placed in service, cost basis prior depreciation etc.

    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsCookie settingsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification