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Level 2
posted Jun 3, 2019 1:12:06 PM

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?

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3 Replies
Alumni
Jun 3, 2019 1:12:07 PM

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

Level 2
Jun 3, 2019 1:12:08 PM

Asset

Level 10
Jun 3, 2019 1:12:10 PM

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.