In 2018 I rented my home for 365 days. This was specified on Schedule E under "Fair Rental Days". Unfortunately as I was preparing my 2019 tax return (via TurboTax) I discovered that no depreciation expense was entered into my Schedule E for 2018. How does this happen when I specified on my 2018 return 365 days for the "Fair Rental Days"?
@prbailie wrote:
I discovered that no depreciation expense was entered into my Schedule E for 2018. How does this happen when I specified on my 2018 return 365 days for the "Fair Rental Days"?
Did you enter your home as an asset to be capitalized in the program?
Specifying that the property was rented for the entire year is not sufficient; you need to enter the home as an asset that can be depreciated in the Rental section.
Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©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
