Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 31, 2019 3:36:11 AM

Can I enter cost of depreciation to lower my rental income

I cannot find the field for entering the cost or % of depreciation for my rental property

0 1 721
1 Replies
Moderator
Oct 31, 2019 3:36:12 AM

To claim CCA on rental income in TurboTax Premier Online:

Click on the “Find” icon in the top right and search for “rent”. Select “Rental Properties” from the list and then click the “Go” button.

Click YES, then on the next page click EDIT next to the property you wish to add the CCA to.

Check the boxes next to “Bought/Sold Equipment, property, buildings or land”, and “Calculation of CCA Claim”.

Click Continue until you get to the “here's your capital cost allowance for your assets” page. Here you can enter your UCC balance and any additions/dispositions for the year.

After clicking DONE, you’ll get to the page where you can choose how much CCA you want to take.

 

If you need further assistance, please contact our phone support: https://turbotax.community.intuit.ca/replies/3152013