Schedule E: Matching Depreciation of Assets with Ownership Percentage
By default, TurboTax calculates the depreciation of your Schedule E assets at 100%.
If you own less than 100% of your business and would like your assets to match your percentage of ownership, follow these simple steps.
Here's how to get to the Schedule E screens in the TurboTax Online:
- Select the Tools button in the upper right-hand portion of the screen.
- Select Topic Search.
- When the window opens, type "sch e" into the box, select the Schedule E item, and then select GO.
Here's how to get to the Schedule E screens in the TurboTax desktop or CD/download version:
- Enter your cursor into the search box in the upper right-hand portion of the screen.
- Type "sch e" into the box, click on the Schedule E item.
Continue through the program until you are prompted to enter the business use of your assets.
Adjust this amount to match the percentage of your ownership.