Well, the TT processing of our 1031 exchange was not very user-friendly. I think even I could devise a better series of questions leading to a more direct result. After inputing every bit of info TT asked for, it still did not show any depreciation for the new rental property. Only after I added a new rental property (with the same address) using the TT calculated basis as the additional property cost, then close out the rental property section, did the depreciation show up…I then deleted the extra rental property and somehow- magically- the correct depreciation remained with my 1031 new property….super convoluted process and trial and error approach finally worked. I had the feeling TT was intentionally leading me to the “use a live person to help” option just to squeeze an extra $100+ out of me. I will definitely be looking for a different tax prep program next year.
