1. This is my first year to use Turbo Tax instead of professional tax agent. The last year return has an Appreciation and Amortization Report to store the detailed information: when they start, how much in total and how much has been deduct and the amount for each year, but Turbo tax only have this report for Appreciation. Where is the report for Amortization, like closing cost, ...? where to input these information for amortization?
2. The Amortization for my rental property is $251. I put in Other Expense. In Federal tax return, I have rental income, which included the deduction of this $251, but in NJ state tax Schedule NJ-BUS-1, Part IV deduct this amount again as NJ Depr-adj, so the rental income for State NJ will $251 less than Federal return. Is this a problem?
