Turbotax telling me I can deduct improvements under $2,500 as an expense. I enter information but then I do not receive the full $2,500 as an expense. Why?

danh123 · ‎June 3, 2019

Lisa995 · ‎June 3, 2019

Are you entering it as an expense or as an asset?

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

danh123 · ‎June 3, 2019

Asset

maglib · ‎June 3, 2019

The deduction is a 2 step process. You told TT to not enter the new asset, but now You now must enter the amount as an expense and go back to that section of the interview.

It is a suggestion for improvement in the future.

I am not a TT employee. I hope this helps.

**I don't work for TT. Just trying to help. All the best.
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Turbotax telling me I can deduct improvements under $2,500 as an expense. I enter information but then I do not receive the full $2,500 as an expense. Why?