Can I input the depreciation line item (for schedule E) by myself? I don't want to go answer all of the prompted questions as I'm in the middle of a depreciation schedule

Forum|Forum|5 years ago
January 3, 2021
2 replies
20 views

This is the first year I've used turbotax. Previously, I have done it myself by hand. So I have already established all of my tax bases and this isn't the first time the assets have been placed in service.

TurboTax Premier Online

Mike9241

Level 15

there should be forms mode which would have schedule e with a link to enter the detail of each asset all on 1 page. if you override the depreciation amount 1) you will not be able to e-file. 2) TT will not track the depreciation so if you sell there would be a need to enter the accumulated depreciation as an override.

Mike9241

Critter-3

Level 15

The forms mode is ONLY in the downloaded programs and all entries really need to be made in the step by step mode to avoid unintended consequences.

In the Online mode your only option is to enter the assets into the program using the info from your depreciation worksheet. If you have items on the list that are fully depreciated you can skip entering those.