Client has been renting out a casita via AirBnB in previous years, due to Covid they did not rent it out at all during 2020. Depreciation is showing up on the Sch E, however I undertand depreciation loss cannot be taken. How do I get rid of it so there is no loss on the Sch E?
Used to be able to override the amount on Schedule E and change it to zero. But, the last few years, then you can't e-file if you override it.
But you can override it on each fixed asset. which if there are only a few assets, is not a big deal. Can still e-file
Was the property used for personal purposes?
If not, you SHOULD be able to enter zero days and not have a problem. If it gives an error, you can just ignore it (and turn off error-checking when e-filing) or just enter 15 days because it does not affect anything.
If there WAS personal use, there probably shouldn't be a Schedule E because it was not a rental.