Where do I enter the Basis for deprecia rental property my client bought in 2020

Forum|Forum|5 years ago
January 8, 2021
1 reply
20 views

My Client bought land and built a house for rental in 2020. She began renting the house in November.

I've entered the income and expenses for the rental, but I don't know where to enter her basis in the land and building for depreciation of building next year.

Help!

ProConnect Tax

This topic has been closed for replies.

Best answer by itonewbie

You can follow the instructions from these two articles:

https://proconnect.intuit.com/community/federal-taxes/help/how-do-i-generate-form-4562-for-depreciation/00/4716

https://proconnect.intuit.com/community/federal-taxes/help/entering-depreciation-for-new-clients/00/5611

itonewbieAnswer

Level 15

You can follow the instructions from these two articles:

https://proconnect.intuit.com/community/federal-taxes/help/how-do-i-generate-form-4562-for-depreciation/00/4716

https://proconnect.intuit.com/community/federal-taxes/help/entering-depreciation-for-new-clients/00/5611

---------------------------------------------------------------------------------Still an AllStar

T

t-o-bookkeepingsAuthor

Level 3

Thank you, I saw that but thought it couldn't be that easy!

itonewbie

Level 15

NP, @t-o-bookkeepings and it is. If the response solves your problem, please consider marking it the solution to help others who have similar questions.

---------------------------------------------------------------------------------Still an AllStar

Sign up

Login with SSO

Let's get you signed in

Login with SSO