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mmh3
New Member

Where in turbotax is the depreciation schedule year-by-year

 
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Where in turbotax is the depreciation schedule year-by-year

TurboTax does not track depreciation on a year-by-year basis (i.e., the program does not generate a list of the depreciation deductions allowed for each tax year).

 

Rather, TurboTax generates a depreciation report which lists the cumulative depreciation (for all prior tax years) and the depreciation for the current year.

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17 Replies

Where in turbotax is the depreciation schedule year-by-year

TurboTax does not track depreciation on a year-by-year basis (i.e., the program does not generate a list of the depreciation deductions allowed for each tax year).

 

Rather, TurboTax generates a depreciation report which lists the cumulative depreciation (for all prior tax years) and the depreciation for the current year.

Where in turbotax is the depreciation schedule year-by-year

Save a PDF with the worksheets  ...  

 

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state. 

 

This will take you back to the 2019 online tax return.

 

Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  

 

Choose the option Include government and TurboTax worksheets

 

Where in turbotax is the depreciation schedule year-by-year

TurboTax will generate a Depreciation and Amortization Report and also Schedule E Two-Year Comparison but that is about it; there is no worksheet or other report that lists year-by-year depreciation allowed for years prior to the last two.

Anonymous
Not applicable

Where in turbotax is the depreciation schedule year-by-year

not sure about online.  but in the desktop version there is an asset depreciation history link under each asset's entry worksheet 

Where in turbotax is the depreciation schedule year-by-year


@Anonymous wrote:

not sure about online.  but in the desktop version there is an asset depreciation history link under each asset's entry worksheet 


a) It is not called "asset depreciation history"; there is an Asset Entry Worksheet and a Depreciation and Amortization Report.

 

b) None of the aforementioned lists the depreciation allowed on a year-by-year basis (which was explicitly mentioned in the original post).

Where in turbotax is the depreciation schedule year-by-year

Look for this worksheet : 

 

depreciation ws 2018.png

Where in turbotax is the depreciation schedule year-by-year

I have never seen a depreciation chart - NEVER!!  I have foolishly just accepted the numbers that were givern me and then this year they didn't auto-fill as they have in the past

JamesG1
Employee Tax Expert

Where in turbotax is the depreciation schedule year-by-year

@Ocean Shores

 

Depreciation allocates the cost of a business asset over one or more years.

 

TurboTax Self-employed Online allows you to view the depreciation details by clicking Show Details at the screen Asset Summary.

 

Depreciation and Amortization Report for both regular tax and AMT is available under Tax Tools / Print Center / Print, save or preview this year's return.

 

Similar reports are available under Forms in TurboTax Home & Business Desktop.

 

 

 

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RogerSC
New Member

Where in turbotax is the depreciation schedule year-by-year

Looking for my Depreciation and Amortization Report from last year's return and can't get it anywhere.. it is not in the PDF  and i cannot  go back on my account to print it out...

RogerSC
New Member

Where in turbotax is the depreciation schedule year-by-year

Just to clarify, i am looking to find the depreciation schedule on my rental property.

Where in turbotax is the depreciation schedule year-by-year

2020 Interest = $1,533.79

2021 Interest = $1,455.55

2022 Interest = $   876.80

2023 Interest = $   195.10

 

Loan Amortization

 

Did not know where to record 2020 Loan Amortization interest

bpleskow
New Member

Where in turbotax is the depreciation schedule year-by-year

I had trouble with this and finally figured it out! For some reason, my assets that i have been depreciating in turbo tax for 3-4 years were not carrying forward and i had to retype them all. Problem is, I didn't have great records and all of the information needed (because i relied on TT to store this for me).  I called Turbo Tax and they guided me through. For some reason, the online version has changed and will not give you prior year Turbo Tax worksheets with your tax returns. So if you go into "Documents" and try to save your prior year returns as a PDF, it will only give you the filings as opposed to the backup worksheets. Same if you try to to go to "Tax Home" and download the prior year returns. 

 

SOLUTION! The representative told me to go into a prior year where the assets had already been depreciated. 2019 was good for me. Go to Tax Home, scroll down until you see "Your tax returns and documents". Go to "Amend (change) 20XX return" and click Amend using TurboTax Online. Note this will only work if you used TurboTax previously and entered in the information on the assets. Once you agree to amending the return, go to "Print Center" and "Print or save this years return". Be sure to click "Include government and TurboTax worksheets (optional)". This will give you a incomplete pdf return; however, if you scroll down to the worksheets, it will include all of your prior year depreciation and amortization. You can just save this down and retype this information in your current year return. BE SURE TO HIT "CANCEL AMENDED RETURN" WHEN YOU ARE ALL DONE. This will close out the amendment and you should be on your way!

Thud
Level 2

Where in turbotax is the depreciation schedule year-by-year

FOR DESKTOP USERS-- TO GET THE ALL ASSETS version of the Depreciation Report I went through the following steps;

1.from Forms View CLICK -  <Open Form> button .

In the search box, SEARCH FOR  “all assets”  to find

“FORM 4562 Depreciation options

                          Depreciation Reports – All Assets”

 

Click on 2nd line—all assets report to highlight it

 

Click on the <open form> button

 

In the small window that appears--  click “Calculate All Assets Depreciation Report for this client”

then Click <quick zoom> below

 

 and then once “zoomed” to the calculated form in the new window,  click the <open form> button to see the All Assets Depr Workheet

THIS REPORT DOES SHOW EACH YEAR-AFTER-YEAR DEPRECIATION FOR ALL ASSETS. 

 

Where in turbotax is the depreciation schedule year-by-year

This is great! Sadly it only appears to work for the most recent year. I can do this for 2020, but I can't add a state for 2019 or 2018

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