Question

Where do I enter a Section 179 expense on my Schedule E?

Forum|Forum|2 years ago
March 27, 2024
1 reply
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I completed a Section 179 election for a new range and refrigerator in my rental property. Where do I report this on my Schedule E?

TurboTax Online

T

ThomasM125

When you enter your asset for depreciation in the rental section in TurboTax, the depreciation will appear on Form 4562 Depreciation and Amortization. From there, it will transfer to Schedule E where it will appear on line 18 Depreciation expense. You can only deduct a section 179 election for depreciation in the current year to the extent you have net income from the rental, so the entry on line 18 for depreciation may be less than the amount you elected for the assets put into service in the current year. Any unused deduction will be carried over to next year.

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