Anyone convert from TaxAct Premiere to TubroTax Premiere....where Schedule E "Rental property" was filed?
I am a Current user of TaxAct. Considering converting to TurboTax Premiere. TaxAct will create PDF which TurboTax will import...BUT..the TaxAct PDF will not include Schedule E...or Capital Gain prior years Carryover Loss Amount. I did find article that directs how to insert prior years CapGain Carryover LOSS....find the total Carryover Loss in TaxAct and insert that dollar amt in Turbotax ...where/How?
Now as to "Schedule E" Depreciation total. There are about 35 items that are in my TaxAct depreciation schedule... As an example, 1 is a refrigerator that I depreciate over 10 years. The purchase lets say was $1,000.00. Its depreciation lets say is $100.00 per Year and its been in use 4 years. So its Lifetime depreciation remaining is now 600.00; this years Depreciation deduction would be $100.00. I am guessing if I convert to Turbotax Premiere I would need to enter each depreciation item from my TaxAct Depreciation Schedule (Enter description\Costs (ie I would enter using Refrigerator Example $600.00)\Years depreciation;Life (Enter 6 years)...and using the refrigerator example...I would enter its Value as $600.00 with a remaining life of write-off for 6 Years.... And do this for everyone of the 35 depreciaiton items from Taxact. Lots of Input..but for TubroTax 2024...correct Depreciation will carryover\populate from 2023 version....
Any assistance to accomplish an easy conversion from TaxAct Premiere to Tubrotax Premiere (need Cap Gain carryover Loss\Schedule E Depreciation and possibly Schedule C will be appreciated.....
