We are transferring rental units from one LLC to a smaller new LLC and need to retain the special depreciation allowance that was used the year the property was put in service. We are using TurboTax Business and there doesn't seem to be a place where the special depreciation allowance can be entered. The software specifically asks to insert all prior year depreciation without the special depreciation allowance, but then does not provide an opportunity to insert the special depreciation allowance. Without the ability to add the special depreciation allowance, the amount to be depreciated for the 27.5 years is incorrect. We already had to adjust the business start date to the date the asset was put in service in order to even put the asset in the system. After putting it in the system we had to go back in the forms view and insert the date the new LLC was actually formed.
