PatriciaV
Expert Alumni

Get your taxes done using TurboTax

Because Form 3115 is not supported by TurboTax Online in the interview, you may wish to switch TurboTax Desktop (where it is available in Forms Mode). Consult the instructions for this form: Instructions for Form 3115.

 

This is a complex situation, and you may consider upgrading to TurboTax Live. This online service provides step-by-step guidance from a tax expert whenever you need assistance, either over the phone or by screensharing.

 

Here are the steps if you're using TurboTax Desktop (note these are generic and may be different for your situation):

  1. Select View from the top toolbar
  2. Then select Forms
  3. Select Open Form and  type 3115
  4. Select Form 3115, p1-3: Change in Accounting Method and select Open Form
  5. Complete these lines and boxes:
    1. Tax year of change: Enter current year
    2. Type of applicant: Choose what type of entity you are
    3. Type of accounting method change: Select Depreciation or amortization
    4. Part I: For question 1(a) DCN: Type in 7
    5. Answer questions 2 and 3
    6. Part II: Answer questions
    7. Part IV, question 25: Select No (to get to Part IV, you might have to select QuickZoom at the bottom of the form)
    8. Question 26: Enter the depreciation adjustment amount 
    9. Question 27: Answer No
    10. Answer question 28
    11. Skip to Page 8, Schedule E Change in Depreciation or Amortization and complete the section (you might have to select QuickZoom at the bottom of the form again).
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