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"Go find the two depreciation reports"? I have no idea what turbotax is asking for. I used turbotax last year, and looked through all my tax forms??

The hope office deductions specifically asks:

"First, go grab a copy of your 2016 tax return if you don't already have it. Then, in that return, find the two depreciation reports. Take your time."

1. I have no idea what its asking for. Since I did my taxes with turbotax before, why doesn't it know what I'm looking for?

2. I looked in my 2016 tax return for over an hour and still cannot find 2 things called "depreciation reports".

Things like this are very very frustrating. Any ideas?

(note, I don't know if it has anything to do with the fact that I just switched to a home office this year. Last year I didn't meet the usage test, so it didn't give me the deduction, but this year I did?)

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1 Reply
Carl
Level 15

"Go find the two depreciation reports"? I have no idea what turbotax is asking for. I used turbotax last year, and looked through all my tax forms??

When you print your taxes (any year) you need to select to print everything. (and I do mean EVERYTHING) Not just the "forms needed for filing" or "forms to keep for your records". You need to print it all. Now for me, my forms for filing is about 35 pages. But when I print everything, it's quite easily over 100 pages. (176 last year). In that printout, you will find a minimum of 3 IRS form 4562's for each business and each rental property that you own. Two of the three print in landscape format. One of those two is titled "Alternative Minimum Tax Depreciation Report" and the other one is titled "Depreciation and Amortization Report".

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