Asset depreciation availability issue

[fahedz]

I am trying to add my AC replacement cost for my rental but I get a screen on TT that says Depreciation and Amortization will be ready in February and maybe sooner. But Form 4562 is already released by TT, so why am I getting this screen and what am I missing?

[PatriciaV]

Although the forms availability table indicates that Form 4562 is ready to e-file, the final update for depreciation calculations within the software has not been released. We don't know the actual date for the software update.

We recommend that you wait a few days for additional TurboTax updates to be released, which should resolve the experience you're having with Depreciation.

[fahedz]

Thanks for the reply! It is a relief to know that.

[pootietang]

I've been ready to submit taxes for a week now and still waiting for this in order to finalize. 

Any idea of when it will be available? "Wait a few days" is a very vague answer considering some of us have been waiting for a few days already. Is it a week or 4 weeks? 6 weeks? Customers need to be able to make an informed decision on what to do and this is impossible if we are kept in the dark. 

[ronkinkade]

Yeah, I've been waiting since the 26th for this and still no update. I hate waiting for product updates without more specific guidance.

[fahedz]

By the way, I noticed that if you go through forms you can add one asset entry worksheet manually for each item you want to depreciate. I added four for AC, and three other appliances. Also the the form and software is already updated do the OBBB changes to depreciable assets so you could take the depreciation of appliances as bonus depreciation in one year. AC is over 27.5 years.

i am not ready to file yet so have not tried. Don’t know if electronically you could file, but maybe you can print out and file 

[PatriciaV]

We anticipate the depreciation calculations within the software should be updated after February 13, 2026. Our tech team is working hard to release the updates before that date. Please be aware that this update will affect depreciation for Schedule E (Rental Properties) only. Schedule C (Self-Employment) was updated previously and should be working in all versions of TurboTax.

[Username5]

I agree that it is rather simple to fill in the values on the 4562 however I am waiting for the update because of the possibility of an entry relating to Section 179.  That depends if any items could be considered an expense (typically relating the $2500).  If you do have a Section 179 entry, then you may have to deal with other forms.   I have flooring costs that typically would go on 4562 but are less than $2500 so I'll be waiting for the 179 guidance rather than discover I did something incorrect because I was too impatient to wait for the guidance that is still being developed.

It is frustrating that Intuit does not specify what changes are made. 

[pootietang]

Can we please get an update on this. It is still not available...

[AnnetteB6 · Accepted solution]

The work on this section of TurboTax is continuing and expected to be completed with an update coming after Thursday night.  The best time to check for a change will be Friday.
 

@pootietang 

@Username5 

@fahedz 

[Roxanarodriguez]

Check in Friday? Can you be more specific? Friday of what week, month or year? 
im buying a house and need my 2025 tax return  to get the loan. I will miss the deadline if im not able to complete the taxes. At least have the decency to give a realistic deadline so we can move to a new software 

[PatriciaV]

TurboTax releases updates each Friday around midnight. In the case of Depreciation, the update should be released on February 20, 2026. We recommend waiting until the next day to access your return. If you're using TurboTax Desktop, be sure to allow the program to install updates automatically.

@Roxanarodriguez