Carl
Level 15

Business & farm

You can not import or transfer into TurboTax Business, from any other version of TurboTax.

I assume this is a multi-member LLC that you will be filing a 1065 for.

Just print out the latest 4562's and the form 8582 from the most recent personal return you have.  The 4562's I'm referring to print in landscape format. One is titled "Depreciation and Amortization Report" and is most likely the only one you will need. The other is titled "Alternative Minimum Tax Report" and you'll need that one only if the Business program asks you for AMT amounts.

The Form 8582 shows your PAL carry overs. If you don't have a form 8582 that's fine. It just means you don't have any carry over losses.

When entering the property and it's other assets into the business program, all the data you need is on the 4562's. I.e.; in service date, cost, cost (net of land), business use percentage, method/convention, etc.

The program (not you) will figure the prior year's depreciation automatically, based on the in service date and other data that you enter.