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I'm using the Asset Entry worksheet in Turbo Tax and there are only 2 types of assets showing up for the selections. Has this been an issue?

Asset Entry is listing Home Office
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I'm using the Asset Entry worksheet in Turbo Tax and there are only 2 types of assets showing up for the selections. Has this been an issue?

Yes, this is a known problem and TurboTax support should have an update for the software in the near future.  Updates normally occur each Thursday when required.

 

However, you should be entering the Assets in the Step-by-Step interview and not in Forms mode.  If you enter your Assets in the TurboTax interview they will be properly recorded with the correct recovery times.  Also the Form 4562 Deprecation and Amortization will also be correctly completed if you use the interview mode.

 

 

rjs
Level 15
Level 15

I'm using the Asset Entry worksheet in Turbo Tax and there are only 2 types of assets showing up for the selections. Has this been an issue?

This problem has been fixed by the update released today, September 3.


TurboTax Online is updated. If you are using the CD/Download TurboTax software, update your software.

 

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