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R
ryamamoto47san
February 9, 2025
Question

where on turbo are rental home depreciatiopn numbers

  • February 9, 2025
  • 1 reply
  • 0 views
where do i enter rental home value to calculate depreciation

    1 reply

    M
    MindyB
    February 9, 2025

    Here's how to report a rental home in order to expense depreciation in TurboTax Online:

     

    • Navigate to Federal > Wages & Income >Rentals, Royalties, and Farm > Rental Properties and Royalties (Sch E) > Start or revisit
    • Edit the business or create a new one
    • The interview will ask what expenses you had. ‌Indicate there are assets, and the property itself is considered a new rental property.
    •  In the list of income and expenses, choose the pencil icon next to "New rental property" to enter the cost basis and begin depreciating the asset.
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