@JohnB5677 @ZoltanB45 @PatriciaV Doing a little research on the Oklahoma website, I've found out definitively that the income is indeed taxable in Oklahoma from being "tangible personal property located in the state." The issue continues to be that the income is rents from personal property (not real estate), i.e. personal equipment. It is movable and not fixed to land, therefore not real estate. Schedule E is for real estate...it says so right at the top of the form. Schedule C is not appropriate because this is not a business or "active" income. According to IRS instructions (stated earlier) this must go on Schedule 1 along with the expenses (depreciation). However, I don't see anywhere in the software to generate a Form 4562 (depreciation) with Schedule 1 and have the result show up on line 24b on Schedule 1. This appears to be an oversight in the software, unless someone knows how to do this. Does anyone know how to do this? Or any suggestions on what to do? TurboTax is supposed to be the best software available, so I would hope this can be done. Otherwise, this software was money down the drain and I will have to file a paper return.
