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Deductions & credits
Do I add up the amounts reported on Schedule E for the rental years? For a couple of the years I rented, the amount reported on Schedule E is more than the amount shown for the current year depreciation for the Alternative Minimum Tax on Form 4562. Do I enter both amounts that are reported for the same year? I am using TurboTax Online. I have used a disc to do my taxes until this year. I imported last year's tax return from the PDF file and thought TurboTax online would figure out the depreciation I want to make sure I am looking in the right place for the depreciation. If I got a disc would it figure it out? I am confused on what figures to add.
‎April 6, 2021
6:26 PM