Investors & landlords

First of all, this return cannot be efiled because of the attached statements that must be completed.  You would be unable to use Form 4562 that is in Turbo Tax because it doesn't allow you to make entries on the form. You would need to attach a pdf copy of the form along with the statements that are required to claim the additional $6847.  Here are the instructions that Turbo Tax mentions in it's On Demand Tax Guidance.

If you elect to deduct up to $10,000 of qualified expenses ($5,000 if MFS) in the current year, attach a statement to your return that contains the following information.

- The unique stand identification numbers.
- The total number of acres reforested during the tax year.
- The nature of the reforestation treatments.
- The total amounts of qualified reforestation expenditures eligible to be amortized or deducted.

Attach a separate statement for each property for which you amortize reforestation costs. If you have additional expenses to amortize, you must also attach Form 4562 with Part VI completed.

This is the only method you may use to amortize your reforestation expenditures as an investor because Turbo Tax has limited support in this area. You mention above using asset worksheets.  I assume you were trying to report this on a Schedule C but you do not have a business or rental.  This is strictly a personal investment and must be treated as such so you would not use a Schedule C or Schedule E to report amortization on a personal investment.

I would suggest reading the On Demand Tax Guidance that is in Turbo Tax to backup what i have already mentioned. Go to;

• Federal Taxes
• Other Tax Situations
• Business taxes
• Reforestation Amortization
• Select the hyperlink that says Learn More

Once you have completed the statements and 4562, attach these to your return to be mailed in accordance with the mailing instructions that will be provided for you when you are ready to file your return.

As an FYI, your gravel road is part of your land. This is not amortized but added to the basis of the land if you sell the property.

@bel21