I own a rental property, in past years we purchased many items like furniture and improvements, and we also had closing costs. My accountant entered depreciation for all this, and I have a depreciation & amortization report from her that lists each item separately.
Now I am trying to do my own taxes, but I don't see how I can enter all these individual items as she did, all I see in TT a single box that says "amount of depreciation taken in prior years." How can I copy over all the specific items from my accountant's tax return?
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TurboTax Desktop software can import information under File / Import / From Accounting Software.
In TurboTax Desktop, access the residential rental asset as follows:
Click FORMS in the upper right hand corner of the screen and select Depreciation Report to view the assets entered.
In TurboTax Online, access the residential rental asset as follows:
View Form 4562 Depreciation Report at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets.
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