Have 22 acres of forestland that was harvested before Purchased it. Am reforesting along with adding a non permanent gravel road which is depreciable. My the reforestation expenses are over $16,847. I am not a business & not a farm. since growing for profit I am an investor and know my regular expenses are reported on Schedule A. Turbotax want to do a schedule C. But It's very difficult the information in the right places & have confidence that Turbotax is correct.
I know that the $10,000 goes on Schedule 1 line 24d. I know I use Form 4562, line 44. But when I use the interview & enter the reforestation it just puts the whole $16,847 on Schedule 1 line 24d which is wrong. From other calculator it should be 10,000 along with the 2023 amortization deduction of $489.07. Then 6 yrs @ $978.14 & then $489.07 in the final yr. How do I really get turbotax to amoritize correctly as Turbox tax does automatically?
Same situation with the gravel road. When to intangible asset but wants a date purchased, c
