Question

Schedule E Lines 18 and19

Forum|Forum|1 year ago
March 17, 2025
1 reply
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An asset was purchased for residential rental property and depreciated on Schedule E Line 18 as anticipated. TT also listed the full price of the asset on Line 19. How can the full amount be an expense on Line 19 if it has been depreciated in Line 18?

PatriciaV

Did you claim the Safe Harbor Election for the purchase of assets under $2,500? If so, you would not enter those assets again for depreciation (Line 18). Instead, they should be entered only as a rental expense (Line 19).

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